Business magnate Dr Sudhir Ruparelia has received a dividend of Shs2.25 billion from Bank of Baroda Uganda, where is the second-largest shareholder and its biggest individual shareholder.
The dividend cheque, presented to Sudhir on Monday, August 24, relates to the bank’s financial year ended December 31, 2025. Bank of Baroda Uganda declared a dividend of Shs6 per share for 2025, an increase from Shs4 per share paid for the previous financial year.
Sudhir owns 375,163,500 shares in the bank, giving him a gross dividend of Shs2,250,981,000.
At Monday’s closing price of Shs63 per share, his holding was worth about Shs23.64 billion.
According to Bank of Baroda Uganda’s audited 2025 annual report, the bank’s Indian parent company, Bank of Baroda, remains the dominant shareholder, with 11,999,992,500 shares, representing an 80 per cent stake in the Ugandan subsidiary.
Sudhir holds 2.5 per cent, followed by the National Social Security Fund with 314,736,618 shares, representing 2.09 per cent.
The Bank of Baroda investment forms part of Sudhir’s wider exposure to Uganda’s listed financial sector where he is one of the country’s most prominent individual investors on the Uganda Securities Exchange. Publicly available shareholding records show that he also owns about 330,723,247 shares in Stanbic Uganda Holdings Limited, representing approximately 0.65 per cent of the company.
At Stanbic’s Monday closing price of Shs101, the stake was worth about Shs33.40 billion.
Taken together, Dr Ruparelia’s disclosed holdings in Bank of Baroda Uganda and Stanbic Uganda Holdings were valued at approximately Shs57.04 billion at Monday’s closing prices.
Sudhir is the country’s wealthiest individual with his vast empire spanning real estate with his Meera Investments and Crane Management Services, hospitality under his Speke Group of Hotels Umbrella, education from elementary level to university, media, insurance and horticulture among other ventures.
