LYAMUYA STANLEY in Moshi
MOSHI
based Uchumi Commercial Bank (UCB) shareholders have something to smile
after the Annual General Meeting (AGM) approved 102.50/- per share.
However, the UCB Financial Manager, Mr Samwel Wado said at the bank’s AGM yesterday that shareholders will pocket 70/- per share with the remaining amount retained to bolster UCB core capital.
“Total dividends per share approved have been 102.50/- and as 52.50/- will be retained to increase UCB core capital, the Board is proposing 70/- to be paid as dividends per share,” he said.
The dividend paid is for the last year. On his part, the bank Board Chairman, Mr Wilson Ndesanjo, said during the year under review UCB realised net profit of 474m/- compared with 427m/- in the preceding year.
“UCB was able to attain high returns reflected by earnings per shares and dividend proposal to be approved and paid per share during this meeting,” he said.
Mr Ndesanjo said despite the difficult business environment that banks experienced last year, UCB was able to attain high returns reflected by profit and earnings per shares.
Also, the bank registered total assets worth 31.09bn/-, customers deposits tuned at 22.7bn/-, share capital of 6.8bn/- while having issued loans worth a total of 19.3bn/- to its customers.
The Bank of Tanzania (BoT) official, Mr Msafiri Kuboja commended UCB for positive performance as reflected in its assets, core capital, credit extended to customers.
“Moshi town has a total of 15 banks which pose stiff competition but UCB has continued to record success,” he said.
However, the UCB Financial Manager, Mr Samwel Wado said at the bank’s AGM yesterday that shareholders will pocket 70/- per share with the remaining amount retained to bolster UCB core capital.
“Total dividends per share approved have been 102.50/- and as 52.50/- will be retained to increase UCB core capital, the Board is proposing 70/- to be paid as dividends per share,” he said.
The dividend paid is for the last year. On his part, the bank Board Chairman, Mr Wilson Ndesanjo, said during the year under review UCB realised net profit of 474m/- compared with 427m/- in the preceding year.
“UCB was able to attain high returns reflected by earnings per shares and dividend proposal to be approved and paid per share during this meeting,” he said.
Mr Ndesanjo said despite the difficult business environment that banks experienced last year, UCB was able to attain high returns reflected by profit and earnings per shares.
Also, the bank registered total assets worth 31.09bn/-, customers deposits tuned at 22.7bn/-, share capital of 6.8bn/- while having issued loans worth a total of 19.3bn/- to its customers.
The Bank of Tanzania (BoT) official, Mr Msafiri Kuboja commended UCB for positive performance as reflected in its assets, core capital, credit extended to customers.
“Moshi town has a total of 15 banks which pose stiff competition but UCB has continued to record success,” he said.
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