dfcu Bank held its Annual General Meeting (AGM) yesterday at Hotel Africana, bringing together shareholders from across the country to deliberate on the future of the business.
At the meeting, the company announced the declaration of a dividend payout to its shareholders. This decision underscores dfcu’s commitment to sustainably grow stakeholder value with Innovative Solutions, Inclusivity and Empowered People.
During the AGM, Jimmy D. Mugerwa, Chairman of the Board of Directors of dfcu Limited, shared the bank’s milestones and new strategies aimed at harnessing other business opportunities to enhance shareholder value, customer experience, and satisfaction.
Notably, dfcu Bank achieved a significant milestone by raising its share capital to the new statutory limit of UGX 150 billion well in advance of the June 2024 deadline, without calling on its shareholders for additional capital.
“On behalf of the Board, management, and staff, we are excited to be a part of the dfcu journey that began 60 years ago.
As we celebrate this milestone, we are proud to have been one of the first companies to list on the Uganda Securities Exchange 20 years ago, allowing you, our shareholders, to directly take part in this journey,” said Jimmy Mugerwa.
dfcu Bank remains deeply committed to uplifting the communities it serves. With a 54-branch network, the bank has undertaken impactful local initiatives, complemented by transformative programs such as Women in Business, Rising Woman, the SME Business Accelerator, and the Agribusiness Development Centre.
These initiatives have made significant strides in fostering the bankability of Farmer-Based Organizations (FBOs), Small and Medium Enterprises (SMEs), and Savings and Credit Cooperatives (SACCOs).
Commenting on the bank’s performance and future prospects, Charles Mudiwa, CEO of dfcu Bank, said, “Our focus on innovation, customer satisfaction, and community development continues to drive our success. We are committed to delivering value to our shareholders and ensuring that our products and services meet the evolving needs of our customers.
The initiatives we have in place are designed to support growth and resilience in the communities we serve.”
The company’s share price, determined by market forces of demand and supply, stands at UGX225 per share, moved mainly by retail trades with few shares traded on the counter.
The company remains attractive, and the share price is expected to rise in the future. The company will pay out the proposed dividend if approved by the 30th of August 2024.
