Shareholders of Uganda’s listed power distributor Umeme Ltd face lower dividends after the firm succumbed to more than 60 percent fall in net profit for the year ended December 31, 2020.
The firm, which is listed on the Uganda Securities Exchange (USE) and cross listed on the Nairobi Securities Exchange (NSE), made a profit after tax (PAT) of $36.82 million in 2019, according to its annual report (2019), meaning that its net profit will fall by more than $22.09 million in 2020.
