Habib Bank Announces Payment of Second Interim Dividend for 2024

Karachi: The Board of Directors of Habib Bank Limited (HBL) has approved the payment of the Second Interim Cash Dividend for 2024, designated as D-2024(II), at the rate of Rs. 4.00 per share. This 40% dividend for the second quarter, which ended on June 30, 2024, was declared following a board meeting on August 26, 2024. Shareholders registered by September 4, 2024, are eligible for this dividend.

The dividend has been credited to shareholders who have provided valid International Bank Account Numbers (IBAN) as of September 16, 2024. The distribution details, including the number of shares, total dividend amount, applicable tax and Zakat deductions, and the net amount credited, are now available in the Centralized Cash Dividend Register (CCDR). Shareholders can access these details electronically for record-keeping or tax filing purposes through the eDividend system.

According to information available from the Pakistan Stock Exchange (PSX), HBL has also adhered to the regulations set by the Securities and Exchange Commission of Pakistan (SECP) by withholding dividends for shareholders who failed to provide valid IBAN details. These individuals are urged to submit their IBANs, along with a valid copy of their CNIC, to the Bank’s Share Registrar, M/s. CDC Share Registrar Services Limited, or through the Central Depository Company of Pakistan Limited’s Investor Account Services.

In compliance with Section 119 of the Companies Act, 2017 and Regulation 19 of the Companies (General Provisions and Forms) Regulations, 2018, all physical shareholders are advised to update their mandatory information such as CNIC number, address, and contact details with the Share Registrar. Additionally, they must convert their physical shares into scripless form as mandated by Section 72 (2) of the Companies Act, 2017.

This transition aims to streamline shareholder transactions and ensure compliance with the latest regulatory requirements.

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