Its that time of the year again when my investment in the Stanbic Uganda IPO makes me feel pretty high. I bought a fair amount of shares back then at the price of Ugx60/= (about Kshs 2.50/=). The share price has never looked back and currently trades at Ugx 205/=.
The best bit about this bank (the biggest in the country, having taken over Uganda Commercial Bank) is that it is profitable and continues to be so. And they have a generous dividend policy, the best of all the shares that I do hold. But therein lies the problem: the dividend cheques are drawn on a Ugandan bank account and in Uganda shillings. I cannot cash or deposit them in my nairobi bank account and I dont have a ugandan bank account.
I did bring this up wiith Dyer and Blair stockbrokers who did give me a rather tedious process on how I could claim money on my expired dividend cheques, for the last two years. What I really want is how I can get the money on this new cheque without getting a hernia….any ideas.