Soneri Bank Announces Electronic Disbursement of Interim Cash Dividend

Karachi: The shareholders of Soneri Bank Limited have been informed about the electronic credit of an Interim Cash Dividend at the rate of 12.50%, which amounts to Rs. 1.25 per share for the quarter ending on June 30, 2024. This dividend distribution was approved by the Board of Directors during their 206th meeting held on August 23, 2024. The process to credit the dividends commenced on September 12, 2024, targeting shareholders who had submitted their Computerized National Identity Cards and valid International Bank Account Numbers.

The Bank had to withhold dividend payments from shareholders who failed to provide their CNICs and valid IBAN details, in adherence to the Companies (Distribution of Dividends) Regulations, 2017 and Section 242 of the Companies Act, 2017. According to information available from the Pakistan Stock Exchange (PSX), the Bank is set to publish notices regarding the dividend distribution in Business Recorder and Daily Nawa-e-Waqt on September 16, 2024, as part of compliance with PSX Regulations.

The affected shareholders are advised to visit the Bank’s shareholder information page online or the Centralized Cash Dividend Register (CCDR) to view details about paid or unpaid dividends, including tax and Zakat deductions. To rectify withheld dividends, shareholders are requested to provide updated and valid banking details to the Bank’s Share Registrar or through the Investor Account Services of the Central Depository Company of Pakistan. This proactive submission will facilitate the crediting of any unpaid dividend amounts.

The Bank has taken steps to ensure that all stakeholders are informed of the requirements and deadlines for providing necessary documentation to receive their dividends without delays.

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