Umeme has recommended a dividend of Shs 28.9 per share for the year 2014 - more than 15 per cent the amount it paid out the previous year - even though the power utility firm recorded a drop in profit. The dividend, which will total about Shs 70bn, will be paid out on June 30.
The profit for the year ending December 31 was Shs 70bn compared to Shs 84bn realized in 2013. During the company's annual general meeting at Serena hotel this week, Patrick Bitature, the chairman, said the company nevertheless continued to register growth in the energy sector.
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