Rectification Announced for Berger Paints Pakistan’s 74th AGM on Cash Dividend Omission

Karachi: In a recent update issued by Berger Paints Pakistan Limited, an important rectification has been made concerning the agenda of its upcoming 74th Annual General Meeting (AGM) scheduled for October 25, 2024. The correction addresses an omission related to the company’s dividend announcement for the fiscal year that concluded on June 30, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the notice regarding the AGM was initially uploaded on October 4, 2024. It was later discovered that the agenda mistakenly excluded a significant item concerning shareholder dividends. Specifically, the omitted item pertains to the approval of a proposed cash dividend of 40%, which translates to 4.00 PKR per share on shares valued at 10.00 PKR each.

This dividend recommendation, endorsed by the Board of Directors for the year 2024, has now been formally included in the AGM agenda. The oversight came to light through the vigilant observation of the documents posted on the PSX under the Pakistan Unified Corporate Action Repository (PUCAR) system.

The inclusion of this dividend in the agenda underscores Berger Paints Pakistan’s commitment to maintaining transparency and upholding shareholder interests. The correction ensures that shareholders are fully informed and can participate appropriately in the decision-making process during the AGM.

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