NSSF dedicates Umeme dividend to late Chairman Kyayonka

National Social Security Fund (NSSF) today received a cheque of Ushs 4,518,594,035/-from the power distributor Umeme Limited the as gross dividend payment for its 231,722,771 shareholding in the company.

Ivan Kyayonka is Dead
The fallen NSSF chairman, Ivan Kyayonka

Handing over the cheque to NSSF Managing Director Mr.Richard Byarugaba, the Umeme Managing Director, Mr. Selestino Babungi described 2014 as ‘a successful and eventful year for Umeme, which witnessed a steady growth value to our shareholders.”

Upon receiving the cheques, NSSF decided to dedicate the dividends to the fallen Chairman Ivan Kyayonka.

“We would like to dedicate the dividend payment received from Umeme Limited today to our late Board Chairman, Ivan Kyayonka,” said Byarugaba.

He further praised the fallen chairman that; “He was very instrumental in making the decision to invest in Umeme Limited, both during the Initial Public Offer (IPO), and later when the Fund acquired additional shares.”

NSSF MD Richard Byarugaba
NSSF MD Richard Byarugaba

“Ivan, along with Management ensured that the Fund obtained the requisite approvals in time, otherwise, the Fund would have missed such a great investment opportunity.”