Faisalabad: In a significant move, Interloop Limited has approved its audited financial statements for the fiscal year ending June 30, 2024, and has announced an increased dividend payout during its 32nd Annual General Meeting held on October 24, 2024. The resolutions adopted at the meeting underscore the company's robust financial health and commitment to shareholder returns.

The meeting confirmed the minutes of the previous annual general meeting and approved the company's audited financial statements, which include the audited consolidated financial statement and the statement of profit or loss. This approval follows a detailed review of the company’s performance over the fiscal year, highlighted in the auditor's report and the directors’ review.

A significant resolution was the approval of a final cash dividend of Rs. 2.5 per share, an increase from the interim dividend of Rs. 2 per share paid earlier. This decision reflects the company’s strong financial position and its commitment to rewarding its shareholders. The dividend is payable to shareholders who were registered by the close of business on October 16, 2024.

Additionally, Interloop has reappointed M/s. Kreston Hyder Bhimji and Co., Chartered Accountants, as the statutory auditors for the fiscal year ending June 30, 2025. The reappointment comes with the authorization for the CEO and the CFO to fix their remuneration and cover necessary out-of-pocket expenses and any government levies as recommended by the Board Audit Committee.

According to information available from the Pakistan Stock Exchange (PSX), these decisions are in line with the company’s strategic goals of maintaining transparency and fiscal discipline, essential for sustaining investor confidence and compliance with regulatory standards.