The Independent Uganda: You get the Truth we Pay the Price
Illicit cigarettes remains a big headache the tobacco distributor in Uganda
Kampala Uganda | JULIUS BUSINGE | Shareholders of British American Tobacco Uganda Limited will receive Shs 8.9 billion as dividend, equivalent to Shs 181 per ordinary share, following approval at the 24th Annual General Meeting held at Sheraton Kampala Hotel.
The dividend, in line with BAT Uganda’s 100% dividend payout policy, will be distributed net of withholding tax on July 30 to shareholders listed on the company’s share register as of the close of business on July 26, 2024.
The AGM also endorsed the appointment of Henry Rugamba as the Board Chairperson, succeeding Elly Karuhanga, who retired after more than a decade of service.
Rugamba brings nearly 30 years of experience in business leadership and public relations, having started his career at BT Group plc in the UK and subsequently held key positions at British American Tobacco and Umeme Limited, where he significantly contributed to brand development and stakeholder management. He joined the BAT Uganda board as a director in 2022.
BAT Uganda’s outgoing Board Chairperson, Dr. Elly Karuhanga, expressed pride in the achievements made over time to solidify the company’s position as a resilient and progressive business entity.
He appealed to the government to increase efforts to combat illicit trade, especially in cigarettes, which results in a revenue loss of Shs 30 billion annually.
“Working closely with the private sector, I am optimistic that this challenge can be dealt with sustainably,” he said, wishing the new Board Chairperson success.
BAT Uganda Managing Director, Mathu Kiunjuri, affirmed that the company’s business fundamentals remain solid amidst a challenging operating environment.
“BAT Uganda welcomes the opportunity for an enhanced approach to addressing these challenges (of illicit cigarettes), focused on leveraging partnerships for the effective enforcement of anti-illicit trade policies and regulations,” he said.
BAT Uganda is a member of the BAT Group, a leading multi-category consumer goods business with brands sold in more than 180 markets. BAT began operations in Uganda in 1928 and has been listed on the Uganda Securities Exchange (USE) since 2000. Approximately 1,200 of BAT Uganda’s shareholders are East African.
