Karachi: Notice is hereby given that Dynea Pakistan Limited has scheduled its 42nd Annual General Meeting (AGM) for October 24, 2024, at the Chartered Accountants Avenue, Clifton, Karachi. The meeting, set for 12:30 PM, will also be accessible virtually via video conferencing.

The primary agenda includes the adoption of audited financial statements for the fiscal year ending June 30, 2024. The company will also review and possibly adopt the Chairman’s report and the auditors' findings. This comes after a prosperous year where Dynea announced a final cash dividend of Rs.10.00 per share, equating to a 200% dividend rate, adding to the earlier interim dividend of Rs.7.50 per share or 150%, culminating in a total annual dividend of Rs.17.50 per share or 350%.

According to information available from the Pakistan Stock Exchange (PSX), this dividend announcement reflects a strong performance by Dynea Pakistan Limited, indicating a stable financial outlook for the company. Shareholders are scheduled to appoint external auditors and discuss their remuneration for the next fiscal year. The current auditors, BDO Ebrahim and Co, have expressed their eligibility and interest in re-appointment.

The book closure for share transfer is set from October 17, 2024, to October 24, 2024, to facilitate the dividend payment and the AGM attendance. The company has streamlined shareholder communications through QR codes and direct links, allowing easy access to detailed financial statements and company reports on their website.

This fiscal management and dividend distribution align with the company’s compliance with the Companies Act 2017 and the Securities and Exchange Commission of Pakistan’s directives, ensuring transparency and direct benefit to the shareholders.