UEDCL revenue rises, no dividends declared—Minister explains
UEDCL has announced that its revenue increased from 88.5 billion shillings for the period ending June 30, 2023, to 112 billion shillings for the year ending June 30, 2024. However, the Minister of Energy and Mineral Development, Ruth Nankabirwa, stated that there will be no dividends distributed to shareholders. During the power distributor’s annual general meeting, Nankabirwa said the company has faced constraints from the regulator regarding profit-making. The regulator has been focusing on the affordability of power, which means UEDCL is not targeting profits or returns on investments.
