Karachi: The Board of Directors of AKD Securities Limited has declared a final cash dividend of Rs. 2 per share, amounting to a 20% dividend for minority shareholders, following a meeting at the company’s headquarters in the Continental Trade Center, Clifton. This decision was part of the financial resolutions concluded in their latest meeting held on October 2, 2024.

On June 30, 2024, AKD Securities Limited reported a significant increase in operating revenue, reaching Rs. 1,269.67 million compared to Rs. 627.36 million in the previous year. The net gain on investments also saw a positive shift with a recorded profit of Rs. 451.67 million up from Rs. 562.21 million last year. However, the company faced a decline in other income streams, with unrealized losses on short-term investments totaling Rs. 20.64 million, a stark contrast to last year's loss of Rs. 275.09 million.

According to information available from the Pakistan Stock Exchange (PSX), AKD Securities Limited's total comprehensive income for the year stood impressively at Rs. 1,251.08 million, an increase from Rs. 847.04 million in the previous fiscal year, highlighting a strong financial performance despite market challenges. The earnings per share also increased to Rs. 2.26, up from Rs. 0.78 in the previous year.

Despite no new issuances of bonus or right shares, the financial stability reflected in the annual earnings report and the subsequent dividend payout represents a significant return to the company's shareholders. The Annual General Meeting is scheduled for October 28, 2024, at Karachi.

Share Transfer books will remain closed from October 22, 2024, to October 28, 2024, with transfers processed by October 21 considered for dividend payment and meeting eligibility.