Karachi, Habib Metropolitan Bank Limited is pleased to announce the successful distribution of a 50% Interim Cash Dividend, amounting to Rs. 5.00 per share, for the fiscal year ending December 31, 2023. This dividend was approved by the Bank's Board of Directors during their meeting on August 24, 2023, and has been seamlessly delivered through electronic mode directly into the bank accounts of eligible shareholders.

The dividend disbursement process targeted shareholders who had provided their Computerized National Identity Card (CNIC) and a valid International Bank Account Number (IBAN). This efficient approach ensures that eligible shareholders promptly received their dividend payouts.

In adherence to the stipulations outlined in Section 242 of the Companies Act, 2017, and the Companies (Distribution of Dividends) Regulations, 2017, the Bank withheld dividends for shareholders who provided incorrect or incomplete bank account details. Additionally, shareholders who had not yet furnished complete bank information, including a valid IBAN and their valid CNICs, were also temporarily excluded from the distribution.

This dividend distribution reaffirms Habib Metropolitan Bank Limited's commitment to providing attractive returns to its shareholders. The bank encourages all shareholders to ensure that their bank account details are complete and accurate to facilitate future dividend disbursements.

The successful distribution of the interim cash dividend underscores the bank's dedication to corporate governance and its pursuit of enhancing shareholder value. Shareholders are encouraged to verify their bank accounts for the receipt of the dividend and to address any outstanding documentation issues to ensure seamless dividend payments in the future.