Faysal Bank Announces 20% Interim Dividend for H1 2024

Karachi: Faysal Bank Limited has credited a 20% interim cash dividend for the second quarter ending June 30, 2024, to its shareholders, in compliance with the regulations of the Securities and Exchange Commission of Pakistan (SECP). The dividend, amounting to Rs. 2 per share, was directly deposited into the International Bank Account Numbers (IBANs) of the eligible shareholders on September 20, 2024.

The bank has implemented a direct deposit system to streamline the distribution of dividends. According to information available from the Pakistan Stock Exchange (PSX), this method ensures efficient and timely payments. However, the SECP has mandated that dividends for shareholders who have not provided a valid IBAN will be withheld. This is to ensure that all financial transactions adhere to the necessary regulatory requirements and to curb potential financial discrepancies.

Shareholders who have yet to provide their IBANs are urged to submit their details to their respective Participant or CDC Investor Account Services if their shares are in book entry form, or to the bank’s Share Registrar for physical shareholdings. This should be accompanied by a legible copy of their valid CNIC to facilitate the validation process.

Additionally, shareholders have the option to access their Dividend, Tax, and Zakat Deduction Report via the Central Depository Company’s website or directly from their stockbrokers provided on their CDS terminals. This report is also available via email, enhancing accessibility and convenience for shareholders.

For those who have not received their dividends, Faysal Bank advises contacting their Share Registrar with a written request that includes their Folio or CDC Account Number to address and resolve the issue promptly.

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