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Karachi, MCB-Arif Habib Savings and Investments Limited (MCB-AH) held its Board of Directors meeting on July 26, 2023, where the directors recommended several notable entitlements for the company’s shareholders.
(i) Final Cash Dividend: The Board has proposed a generous final cash dividend of Rs. 5.50 per share, which represents 55.00% of the share’s value.
(ii) Bonus Shares: The recommendation for bonus shares stands at nil, indicating that the company will not be issuing any bonus shares to its shareholders.
(iii) Right Shares: Similarly, the recommendation for right shares is nil, implying that there will be no issuance of right shares to the shareholders.
(iv) Other Entitlement/Corporate Action: The Board has not proposed any other entitlement or corporate action.
(v) Price-Sensitive Information: No other price-sensitive information has been put forward by the company.
The Annual General Meeting (AGM) of MCB-Arif Habib Savings and Investments Limited is scheduled to be held on October 23, 2023, in Karachi. Shareholders whose names are registered in the company’s Register of Members on October 13, 2023, will be eligible to receive the recommended entitlements.
For this purpose, the Share Transfer Books of the company will be closed from October 16, 2023, to October 23, 2023, inclusive. Share transfers received at the office of the company’s Share Registrar, CDC Share Registrar Service Limited, located at CDC House, Shahra-e-Faisal, Karachi, by the close of business on October 13, 2023, will be considered valid for the entitlements.
The company also released its financial statements for the year ended June 30, 2023. According to the statement of profit or loss, MCB-AH achieved a total revenue of Rs. 1,200,663,406, showcasing strong growth compared to the previous year’s revenue of Rs. 915,602,380. The profit for the year after taxation stood at Rs. 378,218,186, leading to earnings per share of Rs. 5.25, a significant increase from the previous year’s Rs. 2.41.
The company’s comprehensive income for the year also saw a substantial rise to Rs. 378,218,186, compared to the previous year’s Rs. 173,361,645.
With these encouraging financial results and the recommended cash dividend, shareholders can look forward to reaping the rewards of their investment in MCB-Arif Habib Savings and Investments Limited. The upcoming AGM will provide an opportunity for stakeholders to discuss the company’s performance, future prospects, and strategies for continued growth and success.
The post MCB-Arif Habib Savings and Investments Limited Announces Generous Cash Dividend of Rs. 5.50 per Share in Recent Board Meeting appeared first on Pakistan Company News.