Colgate-Palmolive Pakistan Announces Generous Interim Cash Dividend

Karachi, Colgate-Palmolive (Pakistan) Limited has declared a substantial interim cash dividend for its shareholders for the fiscal year ending June 30, 2024. In a notice shared with the Pakistan Stock Exchange, the company announced an interim dividend of Rs. 22.50 per share of Rs. 10 each, translating to a 225% dividend rate. This notable return to shareholders underscores the company’s robust financial health and commitment to rewarding its investors.

The dividend will be payable to shareholders listed in the company’s register on February 12, 2024. To facilitate this distribution, the share transfer books will remain closed from February 13 to February 15, 2024, inclusive. Share transfers received by the company’s share registrar, FAMCO Share Registration Services (Pvt.) Limited, by the close of business on February 12 will qualify for the dividend.

The company has also issued instructions for shareholders regarding the update of address details and the submission of valid tax exemption certificates or court stay orders to avoid withholding tax deductions. Additionally, shareholders with joint accounts are advised to declare their shareholding proportions within ten days to ensure accurate tax deduction based on their tax status.

In compliance with the Companies Act, 2017, Colgate-Palmolive (Pakistan) Limited mandates the electronic payment of cash dividends. Shareholders are encouraged to provide bank account details for direct deposit of dividends, using the Electronic Credit Mandate Form available on the company’s website. This directive aims to streamline the dividend distribution process and ensure timely payments to shareholders.

This announcement is part of Colgate-Palmolive Pakistan’s continued effort to maintain transparency and efficiency in its financial dealings, providing clear guidelines for shareholders to receive their dividends seamlessly.