Karachi: Saif Power Limited has successfully credited the first interim cash dividend for the year ending December 31, 2024, at a rate of Rs. 1.25 per share, amounting to a 12.5% dividend rate. The dividend was electronically transferred directly into the shareholders' designated bank accounts, with the exception of those who have incomplete bank account details, including a valid IBAN.

The company has issued a notice to its shareholders, emphasizing the need to update their banking information to receive dividends. This adjustment complies with the Companies Act of 2017, which requires complete and validated bank details for the processing of cash dividends. Shareholders who have not yet provided their full banking details are experiencing withheld dividend payments.

Affected shareholders are urged to contact THK Associates (Pvt) Ltd, the company's share registrar in Karachi, or utilize the Participant Investor Account Services of the Central Depository Company of Pakistan to update their details. Instructions and necessary forms for updating bank information are available on Saif Power Limited’s website. Additionally, a list of shareholders with unpaid dividends can also be found on the website.

Furthermore, the Central Depository Company has introduced the Centralized Cash Dividend Registrar (CCDR) on its eServices web portal. This service provides shareholders with comprehensive information regarding their cash dividends, including details of any Income Tax or Zakat deductions and the net amount credited. Shareholders are encouraged to register on the CDC's eServices Portal to access this facility.

According to information available from the Pakistan Stock Exchange (PSX), this initiative aims to streamline the dividend payment process and ensure that all shareholders receive their entitled dividends without delays. The designated market category for Saif Power Limited remains crucial in assessing the accessibility and compliance of dividend distributions among its investors.