Karachi: OLP Financial Services Pakistan Limited has announced the outcomes of its 38th Annual General Meeting (AGM), held on October 25, 2024, at the Institute of Chartered Accountants of Pakistan in Karachi and through a video link. Key resolutions passed included the adoption of audited financial statements for the fiscal year ended June 30, 2024, and the declaration of a significant cash dividend.

According to information available from the Pakistan Stock Exchange (PSX), the AGM saw the approval of the annual accounts along with the directors' and auditors' reports. Shareholders approved a final cash dividend of PKR 3 per share, marking a 30% increase from the previous year, in addition to an interim cash dividend of PKR 2 per share, reflecting a 20% yield.

The appointment of auditors was another major agenda item, with M/s. KPMG Taseer Hadi & Co., Chartered Accountants, being appointed for the fiscal year ending June 30, 2025. This decision underscores OLP's commitment to maintaining rigorous financial oversight and compliance with corporate governance standards.

The AGM also addressed the transfer of PKR 6,500 million to the company's General Reserve, bolstering its financial resilience and capacity for future investments.

The meeting was conducted in strict adherence to corporate and legal guidelines, including those concerning electronic participation and the prohibition on gifts to shareholders as stipulated by the Securities and Exchange Commission of Pakistan (SECP).

These decisions reflect OLP Financial Services’ strategic efforts to enhance shareholder value and maintain compliance with regulatory standards.