Overview:
The AGM also brought significant changes and re-affirmations to the company's governance structure. Mr. Norbert Kagoro was appointed as an Independent Non-Executive Director, a move welcomed by the board.
– Stanbic Uganda Holdings Limited concluded its Annual General Meeting (AGM) on Friday, May 30, 2025, where shareholders approved a final dividend of UGX 3.31 per share for 2024 and made key appointments to its Board of Directors.
The meeting, held both physically at the Kampala Serena Hotel and via electronic means, saw robust participation from shareholders.
A key highlight of the AGM was the adoption of the audited financial statements for the year ended December 31, 2024, which included comprehensive reports from both the Directors and External Auditors. Following this, shareholders enthusiastically approved the Board’s recommendation for a final dividend.
“We are delighted to announce a dividend of UGX 3.31 per share, a testament to our strong financial performance in 2024 and our commitment to delivering value to our shareholders,” stated Stanbic Uganda Holdings Limited in a statement.
“This reflects our resilience and strategic focus in a dynamic economic environment.” The dividend is scheduled for payment on or before June 27, 2025, to shareholders registered by the book closure date of June 6, 2025.
Baker Magunda, Board Chairman, Stanbic Uganda Holdings Limited, said “2024 has been an undoubtedly strong year for us, and I am proud of the progress we have made towards achieving our purpose under the stewardship of our boards.”
Francis Karuhanga, CEO, Stanbic Uganda Holdings Ltd, said: “We are pleased with the return on the money that you invest in this company, which increased by 1.8% to 24.3%, and you will see that it is also the highest especially in the banking & financial services.”
The AGM also brought significant changes and re-affirmations to the company’s governance structure. Mr. Norbert Kagoro was appointed as an Independent Non-Executive Director, a move welcomed by the board.
“Mr. Kagoro brings a wealth of experience and a fresh perspective that will undoubtedly strengthen our board’s strategic oversight,” said the compay. Additionally, Mr. Baker Magunda and Mrs. Agnes Asiimwe Konde were re-elected as Independent Non-Executive Directors, ensuring continuity and leveraging their established expertise.
In a crucial decision for corporate governance, Ernst & Young Uganda (EY) was appointed as the External Auditors for the period until the conclusion of the next AGM, with the Directors authorized to negotiate and fix their remuneration. Shareholders also approved the fees payable to the Independent Non-Executive Directors for the year 2025.
The meeting also marked a moment of farewell, as shareholders acknowledged the retirement of Mrs. Eva Kavuma from the Board of Stanbic Bank Uganda Limited. Mrs. Kavuma concluded nine years of “exceptional service.”
“We extend our deepest gratitude to Mrs. Eva Kavuma for her invaluable contributions and dedicated service over nearly a decade,” said Rita Kabatunzi, Company Secretary, on behalf of the Board. “Her insights and leadership have been instrumental in our journey, and we wish her the very best in her future endeavors.”
The resolutions passed at this year’s AGM underscore Stanbic Uganda Holdings Limited’s ongoing commitment to sound financial management, robust governance, and sustained shareholder value.