Overview:
The dividend, which is subject to withholding tax, will be paid on 14 August 2025 to shareholders on the company’s register as of the close of business on 7 August 2025.
Quality Chemical Industries Limited (QCIL) has announced a final dividend of UGX 6.0 per ordinary share for the financial year ended 31 March 2025, following the company’s Annual General Meeting (AGM) held electronically on Thursday, 17 July 2025.
The dividend, which is subject to withholding tax, will be paid on 14 August 2025 to shareholders on the company’s register as of the close of business on 7 August 2025.
In addition to the dividend declaration, QCIL shareholders passed several critical resolutions aimed at reinforcing the company’s growth trajectory and operational strength. Among the ordinary resolutions approved was the adoption of the audited financial statements for the year, the appointment of Ms. Botsang Ramorwa as a Non-Executive Director, and the re-election of Directors Mr. Joseph Baliddawa and Mr. Vusi Raseroka.
Grant Thornton was re-appointed as the company’s external auditor for the 2025/26 financial year, with the Board authorized to set their remuneration. Shareholders also approved the fees payable to non-executive directors for the upcoming financial year.
Strategic Borrowing to Fund Expansion
Under special resolutions, shareholders ratified a major funding initiative, approving the company’s entry into a US$36 million term loan facility and a US$15 million working capital loan—both from Stanbic Bank Uganda Limited. These funds will be used to finance the construction of a second manufacturing facility and support QCIL’s operational needs.
The Board was also authorized to finalize all necessary agreements related to the borrowings, including creating any required security interests over company assets.
Additionally, amendments to the company’s Memorandum and Articles of Association were approved to align with “The Companies Act, Cap.106” and to reflect the company’s current official name, Quality Chemical Industries Limited.
The resolutions mark a significant step in the company’s long-term strategy to expand its manufacturing capabilities and reinforce its leadership in the pharmaceutical industry.
About QCIL
Quality Chemical Industries Limited is a leading pharmaceutical company in Uganda and the wider East African region, known for producing antiretroviral and antimalarial drugs locally to improve healthcare access.