Habib Metropolitan Bank Announces Second Interim Dividend for 2024

Karachi: The Board of Directors of Habib Metropolitan Bank Limited has announced a second interim cash dividend of Rs.2.50 per share, amounting to a 25% dividend, for the fiscal year ending on December 31, 2024. This decision was reached during their meeting on August 22, 2024.

According to information available from the Pakistan Stock Exchange (PSX), this newly declared dividend follows an initial distribution of an identical amount earlier in the year. Eligibility for the dividend is contingent on shareholders’ names being recorded on the Bank’s Register of Members by September 4, 2024.

The Bank’s Share Transfer Books will remain closed from September 5 to September 9, 2024, inclusive. During this period, share transfers processed by M/s. CDC Share Registrar Services Limited in Karachi will determine entitlements to this dividend.

Shareholders are urged to ensure their bank accounts are designated to receive dividends electronically, in compliance with the Companies Act of 2017. Modifications to registered postal addresses should also be communicated to the Share Registrar without delay. Additionally, income tax on the dividend will be deducted as per the Income Tax Ordinance of 2001.

Habib Metropolitan Bank has taken steps to reach out to shareholders who have unclaimed dividends or bonus shares, urging them to formalize their claims. This outreach is part of ongoing efforts to comply with relevant sections of the Companies Act, ensuring shareholders receive their due benefits without unnecessary delay.

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