Karachi: Nishat Power Limited has declared a final cash dividend of Rs. 5 per share for the fiscal year ending June 30, 2024. This final distribution is in addition to an already paid interim dividend of Rs. 4.50 per share, culminating in a total annual dividend of Rs. 9.50 per share. The announcement came ahead of the company's Annual General Meeting (AGM), scheduled for October 24, 2024, at the Emporium Mall, Lahore.

According to information available from the Pakistan Stock Exchange (PSX), the upcoming AGM will address several key agenda items, including the adoption of the annual audited financial statements and the ratification of related party transactions carried out throughout the fiscal year. The total dividend for the year represents a significant return to shareholders, reflecting the company's robust financial health and commitment to shareholder value.

The notice for the meeting highlights that shareholders will also vote on the appointment of statutory auditors for the upcoming fiscal year and discuss the remuneration for these positions. Furthermore, the meeting will approve and ratify related party transactions that have been previously approved by the board.

Nishat Power has implemented several procedural requirements for voting, including electronic voting and postal ballots, ensuring wide participation from shareholders unable to attend in person. The book closure notice preceding the AGM, from October 17 to October 24, 2024, will enable the finalization of the dividend distribution list.

Shareholders have been instructed to update their bank details to facilitate the direct electronic transfer of the dividend, aligning with regulatory requirements for cash dividend distribution.