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At today’s 24th Annual General Meeting of British American Tobacco Uganda Limited (BAT Uganda) held at Sheraton Kampala Hotel, Henry Rugamba has been announced as the incoming Board Chairperson. He takes over over from Hon. Dr. Elly Karuhanga who retired from the position that he has held since 2013. At the same meeting, shareholders also approved UGX8.9 billion (UGX181 per ordinary share) as a first and final dividend for the year ended 31st December 2023. The dividend, which is in line with the Company’s 100% dividend pay-out policy, will be paid net of withholding tax on 30th July 2024 to…
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Last week British American Tobacco Uganda (BATU) released its performance results for 2023 reporting that due to a reduction in cigarette sales volumes- its revenues and net profit had each reduced. BATU reported that gross turnover reduced 13.6% from UGX99.5 billion in 2022 to UGX86 billion in 2023 and as a result, net profit went down by 10.1% from UGX9.9 billion to UGX8.9 billion. In what has now become a more than decade-long cry song, the company blamed the poor sales on the persistent illicit tobacco products trade that it said constitutes about 29% of the industry and costs the…
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Shareholders of BAT Uganda have approved UGX 10.3 billion (UGX 209 per share) as a first and final dividend for the year ended 31st December 2022, during the Company’s 23rd Annual General Meeting (AGM) held today, 6th July 2023. The dividend, which is in line with the Company’s 100% dividend pay-out policy, will be paid net of withholding tax on 1st August 2023. During the AGM, the Company also celebrated its 95th year of operation in Uganda. Mathu Kiunjuri, the BAT Uganda Managing Director, said that while the business’ fundamentals remained solid as evidenced by the company’s sustained investment in…
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AT Uganda has called upon the Government to ramp up efforts to curb illicit trade in cigarettes, which it says is impacting the sustainability of its business. In its 2022 performance results announced today, the Company recorded a 6% revenue growth, to UGX 99.5 billion. Profit after tax dropped by 4% from UGX10.3 billion to UGX9.9 billion, driven by a higher cost of operations which more than offset the increase in revenue. The total cost of operations grew by 15% to UGX34.5 billion in line with higher sales volumes and inflationary increases in input costs net of savings, the company…
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Shareholders of British American Tobacco Uganda Limited (BAT Uganda) have ratified UGX10.2 billion (UGX209 per share) as a first and final dividend for the year ended 31st December 2021, during the Company’s 22nd Annual General Meeting (AGM) held electronically. The dividend, which will be paid net of withholding tax on 11th July 2022, is in line with the Company’s 100% dividend pay-out policy. “Despite the adverse impact of an exceptionally difficult trading environment in 2021, we are happy to have made a profit resulting in a dividend payout to our shareholders. BAT Uganda’s business fundamentals remain strong, and the Company’s…
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The Board of Directors of British American Tobacco Uganda Limited have appointed Kirunda Magoola as the company’s new Managing Director with effect from August 1, 2020. This follows the resignation of Mr. Mathu Kiunjuri who has resigned from his position as Managing Director to take on another re-deployment. “Mr. Mathu Kiunjuri has resigned from his position as Managing Director and Executive Board Director of the Company effective 31st July 2020, following re-deployment to a new senior role within the British American Tobacco Group,” said BAT’s board in a media statement. The outgoing MD, Kiunjuiri was appointed to the Board as…
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