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Karachi, Nestle Pakistan Limited has approved its audited financial statements for the year ended December 31, 2023, and declared a final cash dividend. The resolutions were passed during the company’s 46th Annual General Meeting held on April 18, 2024, at 12:00 noon.
The shareholders approved the Annual Audited Accounts for 2023, along with the Reports of the Auditors, Directors, and the Statement of Compliance with the Listed Companies (Code of Corporate Governance) Regulations, 2019. The Auditor’s Review Report on the Compliance Statement was also ratified.
Ernst & Young Ford Rhodes, Chartered Accountants, were re-appointed as external auditors for 2024. Their remuneration and terms were agreed upon mutually with the management, following recommendations from the company’s Board of Directors.
The Board of Directors recommended, and the shareholders approved, a final cash dividend of Rs. 19 per share of Rs. 10 each. This is in addition to the 1740% interim cash dividend (Rs. 174 per share) already paid.
In a move towards digital compliance, the company will transmit annual accounts through QR-codes. Shareholders will receive notifications with QR codes and web links to access and download the annual audited financial statements. Requests for hard copies of these documents can be made if shareholders desire them. The actions taken to dispatch the financial statements via QR-enabled codes received post-facto approval from the shareholders.