烟草在线据《观察家》报道编译　　乌干达市场仍然是卷烟制造商英美烟草的一个至关重要的市场。

　　其乌干达子公司英美烟草乌干达公司，在其公布了强劲的营业收入和利润增长后，将向其股东派发自10年前在乌干达证券交易所上市以来的最高股息。在2011年，该公司的收益为2237亿先令，比2010年的2122亿先令略微增长了5%。

　　据公司秘书Isaac Ampeire称，收入增长很大程度上得到了卷烟销量增长了20%的推动，因为该公司最畅销品牌运动员取得了良好业绩。该公司称，尽管由于目前全球烟草供应过量，出口发货量下降了23%，但是烟叶出口收入受益于2011年先令的疲软。

　　2011年，税后利润从2010年的111.77亿先令增至220亿先令。与此同时，营业利润从2010年的329亿先令增至400亿先令。“营业利润增长了22%，反映了收益的增长的影响，以及管理层通过成本节约在降低经营成本增长方面的努力，尽管在2011年面临着较大的通货膨胀的压力，”Ampeire提到。

　　英美烟草乌干达公司仍是政府财政的一个重要贡献者。在2011年，支付的税收增长到了640亿先令，比上一年增长了13%。董事们建议每股的最终股息为309先令，支付的股息总计为151.6亿先令。代扣税收的股利，将在2012年6月15日之前向2012年4月30日收盘前登记的股东支付。

　　考虑到141先令的中期股息，加上309先令的提议股息，2011年的股息总额为每股450先令，与去年的228先令相比，增长了97%。Ampeire表示，该公司意识到了全球范围内艰难的经济活动，但是它不会停止对产品的投资。

　　“不过，我们认识到全球的经济挑战对当地经济造成了冲击，以及非法贸易、悬而未决的烟草立法、卷烟税收、先令的波动和全球烟草需求的疲软所带来的挑战，”他说。

　　“在这些挑战中，我们将继续投资于我们的品牌和销售网络，提高我们农民所种植的烟草的质量。在这些及其它问题上，我们将继续与相关利益相关者接洽，以促进对我们行业制订合理的立法和税收，”他补充说。

Uganda: Batu to Pay Out Its Highest Dividend

The Observer
Mar 27, 2012

　　Uganda remains a crucial market for the cigarette-manufacturer British American Tobacco.

　　Its Uganda subsidiary, British American Tobacco Uganda (BATU), will dish out its highest dividend to shareholders since listing on the Uganda Securities Exchange more than a decade back, after it posted strong revenue and profit growth. The company registered revenue growth of Shs 223.7bn in 2011, up from Shs 212.2bn in 2010, posting a modest 5% increase.

　　According to Isaac Ampeire, the Company Secretary, revenue growth was largely driven by cigarette sales volumes, which went up by 20% after a good performance by the company's most popular brand Sportsman. Tobacco leaf exports benefited from a weaker shilling during 2011 although the export shipment volumes were lower by 23 percent due to the current global over-supply of tobacco, the company said.

　　Profit after tax went up to Shs 22bn in 2011 from Shs 11.177bn in 2010. Meanwhile, operating profit increased to Shs 40bn, up from Shs 32.9bn in 2010. "The 22% improvement in operating profit reflects the impact of the growth in revenue as well as the focused efforts by management in minimizing operational cost increases through productivity savings in spite of significant inflationary pressures in 2011," Ampeire noted.

　　BAT Uganda remained a significant contributor to government's treasury. Tax payments grew to a record Shs 64bn in 2011, an increase of 13 percent over the previous year. The directors have recommended a final dividend of Shs 309 per share, which amounts to Shs 15.16bn. The dividend which is subject to withholding tax will be paid before June 15, 2012 to shareholders on the register at the close of business on April 30, 2012.

　　Taking into account the interim dividend of Shs 141, together with the proposed dividend of Shs 309, the total dividend in respect of 2011 is 450 per share an increase of 97 percent compared to Shs 228 given out last year. Ampeire says the company is mindful of the tough economic events globally, but that it will not stop investing in its products.

　　"We are, however, cognisant of the global economic challenges that have a knock-on impact on the local economy, coupled with the challenges posed by illicit trade, pending tobacco legislation, cigarette taxation, the shilling volatility and continued ìsoftîe demand for tobacco globally," he said.

　　"Amidst these challenges, we will continue to invest behind our brands and distribution network and improve the quality of the tobacco grown by our farmers. We shall continue engaging with the relevant stakeholders on these and other issues in an effort to promote sensible legislation and taxation with regard to our industry," he added.