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Umeme shareholders
deadpoet
#1 Posted : Monday, March 30, 2020 8:36:18 PM
Rank: Member


Joined: 9/27/2006
Posts: 444
Questions about dividends:

1) Are there any currency exchange losses with respect to dividend payments?
2) How easy is it for the company to pay Kenyan shareholders? I read somewhere that it takes five months? Is that still true?
FUNKY
#2 Posted : Monday, March 30, 2020 9:28:47 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,605
The results were out last week and dividend declared was approximately 1 kes and today's closing price 6.06 which gives it a 16 percent return!! Not to forget umeme is a well managed company not like KPLC
xxxxx
#3 Posted : Tuesday, March 31, 2020 3:16:06 AM
Rank: Member


Joined: 3/20/2008
Posts: 498
deadpoet wrote:
Questions about dividends:

1) Are there any currency exchange losses with respect to dividend payments?
2) How easy is it for the company to pay Kenyan shareholders? I read somewhere that it takes five months? Is that still true?


Umeme's shares registrar is Custody and Registrars Kenya. Payment of dividends to Kenyans shareholders is not problematic. As long as your bank details are up-to-date with the depository, your EFT will arrive right on time.

Regarding the exchange differences, these will always occur since the dividends are in UGX. Usually, if there's critical mass in terms of Kenyan based shareholders, the registrar may maintain agree with the issuer to maintain a KES account from which to remit the dividends. You'd however have to seek clarification on this directly from C&R Kenya.
watesh
#4 Posted : Tuesday, March 31, 2020 8:15:10 AM
Rank: Member


Joined: 8/10/2014
Posts: 810
Location: Kenya
FUNKY wrote:
The results were out last week and dividend declared was approximately 1 kes and today's closing price 6.06 which gives it a 16 percent return!! Not to forget umeme is a well managed company not like KPLC

Dont forget the 15% withholding tax for foreign shareholders
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