Karachi: In a recent announcement, Al-Noor Modaraba Management (Private) Limited has declared that it will not distribute any cash dividends for the financial year ended June 30, 2024. The decision was made during the board meeting on September 10, 2024, where it was agreed that no dividend would be paid out to certificate holders this year.

The Board of Directors has approved a dividend rate of 0.00%, which means no cash distribution will be made per certificate. This announcement affects shareholders who hold certificates of 10/- each. According to information available from the Pakistan Stock Exchange (PSX), the decision is part of the financial strategy for the year as determined by the board.

Furthermore, the company has announced the schedule for its Certificate Transfer Book, which will remain closed from October 21, 2024, to October 31, 2024. During this period, no transfer of certificates will be allowed. This closure is set to prepare for the upcoming Annual Review Meeting. Transfers received at the office of the Share Registrar, Ms. FAMCO Share Registration Services, by October 20 will be processed in time for entitlement determinations.

An important date for the certificate holders is the upcoming Review Meeting, which is set for October 21, 2024. It will be held both through a video link and physically at the Registered Office, Karachi. This meeting will consider various administrative and financial matters of the Modaraba.