Artistic Denim Mills Recommends Rs. 3.50 per Share Cash Dividend for Fiscal Year 2023; AGM Scheduled for October 25, 2023

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Karachi, Artistic Denim Mills Limited (ADML), a leading name in the textile industry, has made crucial recommendations to its shareholders during the Board of Directors meeting held on September 23, 2023, at the Registered Office in Karachi. These recommendations will be presented for consideration at the upcoming 31st Annual General Meeting (AGM) of the company.

The recommendations made by the Board of Directors include:

CASH DIVIDEND:

A final cash dividend for the fiscal year ending on June 30, 2023, at the rate of Rs. 3.50 per share, which amounts to 35% of the share’s face value. This dividend reflects ADML’s commitment to sharing its success with its valued shareholders.

FINANCIAL RESULTS:

The financial results of Artistic Denim Mills Limited for the fiscal year ending on June 30, 2023, are to be considered and approved by the shareholders. These results provide a comprehensive overview of the company’s performance, demonstrating its financial stability and growth prospects.

BONUS SHARES: Nil

RIGHT SHARES: Nil

ANY OTHER ENTITLEMENT: Nil

ANY OTHER PRICE SENSITIVE INFORMATION: Nil

The 31st Annual General Meeting (AGM) of Artistic Denim Mills Limited is scheduled to take place on October 25, 2023, at the premises of Dewan University, located in the Korangi Industrial Area of Karachi. The notice for the AGM will be sent separately to all members in due course of time, providing detailed information about the meeting agenda and proceedings.

In preparation for the AGM and to accurately record share ownership changes, the company’s Share Transfer Books will remain closed from October 17, 2023, to October 25, 2023, covering both these days.

Artistic Denim Mills Limited’s financial results for the fiscal year ending June 30, 2023, reveal a turnover of Rs. 17,072,735, reflecting the company’s robust performance. The gross profit stands at Rs. 2,919,697, indicating significant growth compared to the previous year.

ADML’s dedication to providing value to its shareholders is exemplified by the recommendation of a substantial cash dividend of Rs. 3.50 per share, highlighting its commitment to delivering returns and fostering a strong relationship with its investors. Shareholders and stakeholders are encouraged to participate actively in the upcoming AGM to discuss and approve these recommendations and gain insights into ADML’s strategic direction for the future.

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