Uganda Clays Limited Announces a Dividend of Shs 1.5 Per Share for 2021

29 June 2022
Nile Post News (Kampala)

Uganda Clays Limited (UCL), manufacturers of quality baked clay building products has today, Wednesday June 29, 2022 announced that they posted impressive results for the year 2021 with a net profit of Shs 5.92 billion.

Because of the results, the company said that a dividend payment of Shs 1.5 per share has now been approved by the shareholders.

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The figure is an increase of 11 percent from the pay out of Shs. 1.35 per share declared in 2020.

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According to the management, the dividend for the financial year 2021, will be paid latest by July 20 2022 to the shareholders on the register at the close of business on June 29 2022.

This was announced by the UCL board chairman, Martin Kasekende, during the company's annual general meeting held at the Sheraton Hotel Kampala.

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Kasekende said that the impressive performance was a result of the company's commitment in implementing a robust strategy in the current economic environment.

Reuben B. Tumwebaze, UCL managing director, re-echoed the entity's strong performance.

"Despite the year being marked by unpredictable market conditions, the company has delivered better results than 2020. We have improved and continue to improve our safety record, increased our distribution channels within the country and made excellent progress with our major projects," Tumwebaze said.

Performance highlights

- Total Revenue increased by 24% to Shs 36.7 billion for the period compared to Shs 29.7 billion in the year 2020, notably due to improved efficiencies in production and an increase in sales volume.

- Gross profit increased by 27% to Shs 17.2 billion from Shs 13.5 billion in 2020.

- Operating costs increased by 28% to Shs 12.1 billion from Shs 9.4 billion driven by increased funding of company operating expenditure initiatives for the period.

- As a result, profit after tax for the period increased by 21% to Shs 5.9 billion from Shs 4.9 billion in 2020.

- Total Assets increased by 8% to Shs 74.5 billion, mainly attributable to purchase of clay deposits and deliberate investment in our two plants at Kajjansi and Kamonkoli.

- Total dividend payout for the year is Shs 1.35 billion.

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