Karachi, Meezan Bank Limited, a pioneering Islamic bank in Pakistan, has announced its financial results for the half-year ending June 30, 2023. The Bank's Board of Directors convened in Islamabad and put forward a series of proposals aimed at rewarding shareholders for the institution's robust performance.

In light of the bank's successful operations during the first half of the year, the Board recommended an interim cash dividend for the period ending June 30, 2023, at the rate of Rs. 4/- per share, amounting to 40%. This announcement comes in addition to interim dividends already disbursed at Rs. 3/- per share, equivalent to 30%.

Moreover, the Board proposed the issuance of bonus shares in the proportion of NIL share(s) for every NIL share(s) held, reflecting a NIL % issuance. This allocation would be supplementary to the interim bonus shares that have already been issued at NIL%.

Furthermore, the Bank outlined plans to issue NIL % right shares at par or at a discount/premium of Rs. NIL per share. This issuance would be in the ratio of NIL share(s) for every NIL share(s). It's important to note that this entitlement will not be applicable to the bonus shares mentioned earlier.

The Board of Directors underscored that no other entitlement, corporate action, or price-sensitive information is on the horizon for the time being.

The financial results of Meezan Bank Limited, which comprise both unconsolidated and consolidated Profit and Loss Accounts for the half-year ended June 30, 2023, are provided in Annexures "A" and "B."

The specified entitlements, including the recommended cash dividend and issuance of bonus and right shares, will be distributed among shareholders whose names are registered in the Register of Members by August 23, 2023. During this period, the Share Transfer Books of the Bank will be closed from August 24, 2023, to August 25, 2023, both days inclusive.