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Karachi, Bank Alfalah Limited has enclosed newspaper clippings from “Business Recorder” and “Express” concerning the withholding of cash dividends due to the non-availability of Computerized National Identity Card (CNIC) and/or International Bank Account Number (IBAN). These clippings were published today in the Karachi Lahore and Islamabad editions.
The Board of Directors of Bank Alfalah Limited, in a meeting on April 24, 2024, approved the payment of an interim cash dividend of Rs. 2 per share, which is 20% for the first quarter ended March 31, 2024. This dividend will be credited directly into the bank accounts of shareholders listed in the register at the close of business on May 6, 2024.
The bank stated that, according to the Companies (Distribution of Dividends) Regulations, 2017, the payment of cash dividends is withheld for shareholders who have not provided their CNIC or valid and complete bank account details, including a 24-digit IBAN. Bank Alfalah has already contacted shareholders lacking these details, urging them to submit the required information promptly. Once received, the withheld dividend amounts will be processed and released electronically within 15 days.
Shareholders are instructed to provide their details, along with a legible copy of their valid CNIC, either to their CDC Participant (Broker)/Investor Account Services if shares are held electronically, or to the Bank’s Share Registrar, F.D. Registrar Services (Pvt.) Ltd, located at Office # 1705, 17th Floor, Saima Trade Tower — A, I.I. Chundrigar Road, Karachi-74000, if held in physical form.