STANBIC BANK- END OF 2009 FINANCIAL RESULTS.

Akin to its newest slogan-Moving Forward, Stanbic Bank has declared a dividend of 13.08 for year end 2009 compared to 5.86 for year end 2008.
In a show of resilience its profit after tax edged up by 21% from 78,550 million UgX in 2008 to 95,298 million UgX in 2009.

Market Impact
At the Stock Market the share price moved from 178 ugx in the previous trading session on 22.03.2010 to 200 ugx today 23.03.2010 with shares worth 6,000,000 ugx exchanging hands, this jump is a clear indication of the confusion in the investment fraternity as regards dividends- as explained below.
Star Traders' is expecting more sober impact in the weeks to come, thursday 25 will be overshadowed by NIC primary listing.

Dividend
Investors note that Stanbic paid out a half year (June 2009) dividend 5.27 ugx gross-this is the first time a company has paid out a periodic dividend in less than 12 months at the Stock Market in Uganda therefore for the second half the actual dividend proposed is 7.81 ugx gross therefore bringing the total gross dividend for the financial yera 2009 to 13.08 ugx gross (withholding tax on dividend is 10% for Listed companies).

Star Traders' feels Stanbic has thrown caution to the wind as regards the financial meltdown that led them to declare a cautious dividend less than 30% earnings per share in 2008 compared to the over 70% dividend payout at the end of 2009.