Karachi: The United Insurance Company of Pakistan Limited has initiated a direct electronic transfer of an interim cash dividend for its shareholders. This development followed the close of the second quarter on June 30, 2024, marking a notable event in the company's financial calendar.

Shareholders registered by the close of business, who have also submitted valid National Identity Card Numbers and bank account details, have started receiving a dividend rate of Rs. 2 per share, which amounts to 20 percent of the dividend value. The process, implemented via electronic funds transfer, ensures efficient and secure delivery of dividends directly into shareholders' bank accounts.

According to information available from the Pakistan Stock Exchange (PSX), the automated credit system adopted by The United Insurance aims to enhance transparency and efficiency in the dividend distribution process. This method is particularly significant in ensuring that dividends are received promptly by entitled shareholders, avoiding the delays often associated with traditional cheque-based methods.

In instances where shareholders have not provided an International Bank Account Number (IBAN) or if the provided IBAN is deemed invalid, the company adheres to the Companies (Distribution of Dividends) Regulations, 2017, by withholding the dividends. Affected shareholders are encouraged to contact the company's Share Registrar, M/s. F.D. Registrar Services (Pvt.) Limited in Karachi, to resolve any issues regarding non-receipt of dividends.

This initiative is part of The United Insurance's commitment to uphold best practices in corporate governance and shareholder relations, ensuring that dividends are dispersed in a timely and efficient manner.