AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Security Papers Limited has declared a Final Cash Dividend at a substantial rate of Rs 10.00 per share, marking a 100% dividend for the fiscal year ended June 30, 2024. This declaration was made during the Board of Directors meeting on July 30, 2024. The latest announcement is in addition to an earlier interim cash dividend of Rs 2.50 per share, totaling an annual payout of Rs 12.50 per share, or 125%.
The finalized dividend will be payable to shareholders registered by the close of business on September 18, 2024. Following this date, the Share Transfer Books of the company will be closed from September 19, 2024, through September 25, 2024, to facilitate the dividend process.
According to information available from the Pakistan Stock Exchange (PSX), Security Papers Limited adheres to the regulations stipulated in Section 242 of the Companies Act, 2017, which mandates that cash dividends be disbursed electronically. The company will thus distribute the dividends directly into the bank accounts specified by shareholders, avoiding the traditional issuance of physical dividend warrants.
This digital approach to dividend payment ensures efficiency and security, aligning with modern financial practices and providing shareholders with immediate access to their benefits.