Lahore: Pioneer Cement Limited is set to host its 38th Annual General Meeting (AGM) on October 28, 2024, at Lahore, aiming to discuss significant financial decisions, including a proposed 150% dividend payout to shareholders.

This year’s AGM will primarily focus on reviewing the financial year that concluded on June 30, 2024. Among the key agenda items, shareholders will confirm the minutes of the last AGM held on October 27, 2023. Moreover, the meeting will feature the adoption of the audited financial statements and the Directors' Report, accompanied by the auditor's review. According to information available from the Pakistan Stock Exchange (PSX), this includes a critical evaluation of the company’s fiscal performance over the past year.

A notable highlight of the upcoming AGM is the approval of a substantial cash dividend. The directors have proposed a final cash dividend of 100%, equating to Rs. 10 per share. This is in addition to the interim dividend of 50%, or Rs. 5 per share, which has already been disbursed, bringing the total dividend for the year to an impressive 150%, or Rs. 15 per share.

Additionally, the AGM agenda includes the reappointment of the statutory auditors for the upcoming fiscal year ending June 30, 2025. The current auditors, M/s KPMG Taseer Hadi and Co., Chartered Accountants, will retire but are eligible and have expressed their willingness to continue in their role, pending shareholder approval and remuneration fixation.