This is a pleasant suprise, USE has started implementing E-dividend ie direct crediting of dividends to Bank accounts.
I just received New Vision dividend warrant with an appendix credit advise of some Ugandan shillings credited to our crane bank account.
This is a cheering news for long term investors
and an impressive record from Uganda tiny bourse in less than two years of electronic trading because :-
NSE started electronic trading in 2004, but E-dividend commenced four years after in 2008.
Ghana bourse started Electronic trading in 2008 , they are yet to commence electronic trading.It is always a cumbersome task for Ghana cedis denominated dividend cheque to be posted to me in Nigeria instead of crediting it directly to my Ghana bank account.
My local bourse Nigerian Stock check started electronic in 1999, but E-dividend commenced in 2006.
But note that for now E- Dividend is only implemented for made-in-Uganda companies like
SBU,BOBU,DFCU,NVL not myriad of Kenyan companies listed in Uganda bourse.
I also commend Uganda for the fast recovery
Ugandan shillings. It has returned to the level that it was last year May when we visited. It went as high as 3,000 Ugandan shillings to a dollar a couple of months back. I can still recall
I wired a few dollars then at the rate of UGX 2,950 per dollar ! It is now about 2,450 UGX to a dollar.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .