Uganda Clays faces profitability drop, reduces dividend payouts
Roofing tiles maker, Uganda Clays got its recovery blighted as its profitability dropped by half after weathering a tough 2022. Shareholders will walk away with some UGX 0.5 in dividends, a total of UGX 450 million, according to officials, who blamed the drop in the dividend payment to the tough economic environment which ate into the companies profits. The company’s financials show, In the year ending December 2021, Uganda Clays posted a net profit of UGX 5.9 billion.
