Karachi: Habib Metropolitan Bank Limited has successfully credited the second interim cash dividend for the year ending December 31, 2024, at Rs. 2.50 per share, equivalent to 25%. The dividend distribution, approved by the bank's board on August 22, 2024, was electronically transferred directly into the accounts of shareholders who provided their valid Computerized National Identity Cards (CNIC) and International Bank Account Numbers (IBAN).

According to information available from the Pakistan Stock Exchange (PSX), the bank ensures compliance with Section 242 of the Companies Act, 2017, and the Companies (Distribution of Dividends) Regulations, 2017, by adopting electronic modes of payment to enhance efficiency and transparency. This method also aligns with contemporary financial practices and shareholder convenience.

However, some shareholders faced withheld dividends due to incorrect or incomplete bank details. The bank has issued a notice urging these shareholders to update their banking information to receive their dividends. Shareholders are directed to visit the bank’s website to fill out the dividend mandate form with their correct and complete details to rectify the issue.

Moreover, shareholders can access the Central Depository Company’s (CDC) Centralized Cash Dividend Register (CCDR) to view details of their dividends. This tool is part of the CDC's efforts to streamline dividend tracking and ensure shareholders have access to their financial data.

A notice detailing the credit of the second interim dividend will be published in major newspapers on September 20, 2024, to inform all stakeholders of the recent distribution and the necessary steps for those who need to update their information.