Quality Chemical Industries Ltd (QCIL) has announced a significant increase in dividend payout following a successful year fueled by the sales of antiretroviral and antimalarial drugs. The company’s profit after tax surged by 67.2 percent to Ush31.7 billion ($8.4 million) compared to Ush18.9 billion ($5 million) the previous year. QCIL plans to distribute $5.5 million in dividends, up from $2.5 million the year before, equating to Ush5.7 ($0.0015) per share.
The substantial profit growth has been attributed to the company’s expansion efforts and new investments, particularly from Africa Capital Works SSA, TLG Capital Amistad, SCB Mauritius, Government Employees Pension Fund, and National Social Security Fund. QCIL’s stock is among the most traded on the Uganda Securities Exchange, with a notable increase in value over the past six months.
The company’s CEO, Aja Kumar Pal, expressed optimism about the future prospects, citing a boost in orders from various customer segments. Although facing a decline in contract manufacturing, QCIL remains focused on furthering its product portfolio and market reach for sustained growth.
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