AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Standard Chartered Bank (Pakistan) Limited has credited a 15% first interim cash dividend for the fiscal year ending December 31, 2024. The dividend, amounting to Rs.1.5 per share, was deposited electronically on May 23, 2024, directly into the bank accounts of shareholders who provided complete and valid banking details, including their International Bank Account Number (IBAN).
According to information available from the Pakistan Stock Exchange (PSX), the dividend disbursement followed the approval by the board of directors during its 110th meeting held on April 26, 2024. Notices regarding the dividend credit will appear in the “Business Recorder” and “Express Urdu” newspapers on Saturday, May 25, 2024.
The bank has adhered to the requirements of Section 242 of the Companies Act, 2017, and the Companies (Distribution of Dividends) Regulations, 2017, by withholding dividends from shareholders who submitted incorrect or incomplete banking details. Shareholders whose dividends have been withheld are advised to contact the bank’s Share Registrar at CDC Share Registrar Services Limited, or through the Investor Account Services to update and verify their banking information.
Furthermore, the Central Depository Company of Pakistan (CDCPL) has developed a Centralized Cash Dividend Register (CCDR), an e-Services web portal, to maintain and provide access to historical dividend data for shareholders. This portal also details tax deductions and net amounts credited. Shareholders are encouraged to register for e-Dividend services via the CDCPL e-Services Portal.