Kasengejje Asset Management Limited

UG Market Close 24.04.2026. For more information, please visit crestedcapital.com #crestedcapital

UG Market Close 23.04.2026. For more information, please visit crestedcapital.com #crestedcapital

@BoardLotSultan Broo! I even made a chart for dividends 😂 this is the goal! But as a long term investor i need both.

📉 Safaricom: A Decade of Disappointing Real Returns (2016–2025) Let me be blunt: Safaricom has been a terrible wealth creator over the last ten years. Let's look at the cold hard numbers: - KES 100 invested in 2015 grew to just KES 112 by 2025. That's a paltry +11.93% over an entire decade. - After adjusting for inflation which ate 73.77% of the shilling's value -your real return was a pathetic 0.44%. - That means your purchasing power barely moved in ten years. You'd have been better off in a savings account. Where did the returns come from? - Dividends contributed nearly 90% of your total gain (KES 12.36 per share over ten years). - Capital appreciation? Almost nothing - just KES 1.45 per share, or 10.5% of the total return. - The share price actually fell from KES 17.05 in 2015 to KES 18.50 in 2025 (that's essentially flat after a decade) The brutal years: 2023 was the killer. The stock crashed -43.57% in a single year. That wiped out years of accumulated dividends. Anyone who bought near the peak is still underwater. But here's the hope, and it's real: Two things are changing: 1️⃣Ethiopia is coming to life: Safaricom Ethiopia is bleeding now, but the subsidiary is finally showing signs of life. That market has 120 million people. If it turns, the growth story changes entirely. 2️⃣Vodacom taking over: The new majority shareholder has a track record of aggressive dividend payouts. We could see meaningful dividend hikes in the coming years. The verdict: Safaricom has been a dividend stock masquerading as a growth stock. If you bought for income, you did okay. If you bought expecting capital gains, you got burned. But the next decade might look very different. Ethiopia is the wildcard. Vodacom is the catalyst. Just don't confuse past performance with future potential. The last ten years were a warning. The next ten could be a redemption arc.

@JohnHiuhu we expect some more special dividend in celebration of the 25 year anniversary

At the current price, I expect Safaricom to yield FY dividends of 6% against its share price, expecting a minimum of 1.8 Ksh. This is similar to the returns on real estate. I expect the share price to double faster than that real estate investment.

1/10 Safaricom’s Stealth Accumulation: Why Local Funds are Buying What Foreigners are Dumping 🇰🇪 The Safaricom counter ($SCOM) has been a battlefield this April. The price looks stable. Over KES 4.3B has moved in 30 days. Here’s why the "Whale Exit" matters. 🧵 #Safaricom

UG Market Close 15.04.2026. For more information, please visit crestedcapital.com #crestedcapital

Equity Price List as at 14.04.2026. Get in touch with us for inquiries. 📞+256 414233050 (9 am-5 pm) Mon -Fri. 📷uganda@dyerandblair.com #weknowyouknow #Bringingthemarkettoyou

UG Market Close 14.04.2026. For more information, please visit crestedcapital.com #crestedcapital

@MwangoCapital this dps...are you trying to entice us to buy into this company?

Umeme Limited FY 2025 results (UShs, YoY): ⬛ Revenue: -77.1% to 530.04B ⬛ Gross Profit: -87.8% to 99.88B ⬛ Operating Loss: -69.7% (Loss reduction) to 175.18B ⬛ PBT (Loss Before Tax): -64.9% (Loss reduction) to 211.72B ⬛ PAT (Loss for the year): -56.2% (Loss reduction) to 223.59B ⬛ Total assets: -89.7% to 143.31B ⬛ Bank balances (Cash): +253.6% to 116.58B ⬛ Trade and other receivables: -91.6% to 24.81B ⬛ EPS: +56.2% to (137.7) ⬛ DPS: +753.8% to 222.00

NOTICE: @VisionGroup has released their Unaudited Financial Statements for the Half Year Ended 31 December 2025. For more information, please follow the link to our website: use.or.ug/news/nvl-summa…

UG Market Close 30.03.2026. For more information, please visit crestedcapital.com #crestedcapital

📌NOTICE: @dfcugroup has released their financial results for the year ended 31st December 2025. For more information, please follow the link to our website: use.or.ug/news/dfcu-audi…

UG Market Close 26.03.2026. For more information, please visit crestedcapital.com #crestedcapital

UG Market Close 24.03.2026. For more information, please visit crestedcapital.com #crestedcapital

UG Market Close 23.03.2026. For more information, please visit crestedcapital.com #crestedcapital

The DIP on NSE today presents fresh buying opportunities. Consider accumulating these stocks: - EQTY at 72.50 Target price 93 (Upside 26.1%+) - KCB at 72.50. Target price 90 - 100 (Upside 24.1%+) - DTK at 153.25. Target price 195 (Upside 27.2%+) - IMH at 49.50. Target price 60 (Upside 21.2%+) - COOP at 29.90. Target price 36.50 (Upside 22%+) - NSE at 20.90. Target price 27 (Upside 29%+) - EABL at 258. Target price 350 (Upside 35.7%+) - TOTL at 42. Target price 55 ( Upside 30.9%+) - NMG 15.80. Target price 22 - short term play ( Upside 39.2%) @NSE_Investors @mytradesignals @wiseshilling @EACinvestor @ekmusau @watesh @andrewnjiraini @alykhansatchu @kahome_steve @WillisOwiti @coldtusker @S_Mukoma @JuliusOnStocks @LevelQue @GEORGEMORGAN_01 @JohnHiuhu @StocksMarket_ke @ChiboliS @davidwagikuyu @mwesigwa18 @mcubedto @bosikomoja @ResidentSiaya @VickWealthHQ @madkiqofficial @Vickyjr @kippyt__ @cleuveschahasi @FarmingCareer @Macr0_Nerd @wrightXcapital @InvestorsClave @PesaWall @tradingroomke @HerbertKinyua1 @sir_yanka254 @alichalala @FunOnXx @StellarSwakei @mtucreativity @Jayriq @AmbokoJH

Stanbic Bank Uganda FY 2025 results (UGX, YoY): — Total Assets: +10.9% to 11.5T — Loans and Advances: +16.4% to5.1T — Customer Deposits: +12.9% to 8.0T — PAT: +23.6% to 590.8B — Share Price: +53.7% to 60.32 — Return on Equity: 26.8% [2024: 24.3%] The Directors recommended a final dividend for the year ended 31 December 2025 of UGX 4.30 per share.

Stanbic Holdings 2025 Results (YoY, KES): —Total Assets: +18.9% to 541.3B —Net Interest Income: -1.0% to 24.1B —Loans & Advances to Customers: +24.4% to 366.5B —Provisions: -47.5% to 1.6B (2024: 3.1B) —Total Income: -3.1% to 38.5B —Profit After Tax: +0.02% to 13.7B —EPS: unchanged at 34.70 —DPS: +7.8% to 22.35 —Total Equity: +6.3% to 80.1B —Customer Deposits: +23.5% to 418.6B

@MwangoCapital @mungaikihanya @kahome_steve They seem to be winding down the business especially in African countries hence the gradual pivot from expansion to cash harvesting/extraction. There will be blood at some point.

We asked the BAT management at the analyst today on the issue of them paying dividends that exceeded earnings, and this was their response: —Dividends are being funded from reserves, with management saying the payout above earnings is intentional and supported by strong accumulated cash balances. —Management explained that between 2018 and 2022, BAT Kenya retained roughly KES 1B annually to fund investment in the modern oral (Velo) manufacturing project. After a strategic review, the project was divested and the investment recovered “much for much” without impairment. —Since those funds are no longer required for the cancelled capex project, management said they are now being returned to shareholders through higher dividends. —He stressed this is not a structural or permanent shift to paying above earnings, noting that the formal dividend policy remains anchored around a minimum payout ratio of about 65%, with future payouts dependent on performance and investment needs. —They added that payouts can continue to be supported by reserves in the near term, but sustainability will be reassessed if significant capital expenditure is required, particularly if local modern oral manufacturing is reconsidered. —They emphasized that dividends remain central to BAT Kenya’s equity story, highlighting that many shareholders invest primarily for income and that the goal is to deliver sustainable long-term shareholder returns.

Is there a greater dividend King at the NSE than BAT? Chart credit @MwangoCapital