Islamabad: The 76th Annual General Meeting (AGM) of International Industries Limited concluded on September 27, 2024, with the approval of significant resolutions that will impact the company’s financial and governance landscape for the upcoming year.

The certified resolutions from the AGM, disclosed under clause 5.6.9 of the Rule Book of the Pakistan Stock Exchange Limited, included the adoption of audited financial statements for the fiscal year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the shareholders approved both the unconsolidated and consolidated financial statements along with the directors' and auditors' reports.

In a move to enhance shareholder value, the AGM also approved a substantial final cash dividend. A 35% final dividend, amounting to Rs 3.50 per share, was approved, which is in addition to the 20% interim dividend previously paid, bringing the total dividend for the year to Rs 5.50 per share, marking a cumulative payout of 55%.

Additionally, the AGM saw the appointment of new auditors. M/s A. F. Ferguson and Co., a member firm of the PwC network, was appointed as the external auditors for the next fiscal year, with their term set to conclude at the 77th AGM. The auditing fee, alongside any relevant federal or provincial taxes and reimbursements for out-of-pocket expenses, will be determined through mutual agreement.

These decisions reflect the company’s commitment to robust financial governance and shareholder return strategies as they move into the next financial year.