Karachi: NETSOL Technologies Limited has successfully distributed a final cash dividend of Rs. 3 per share, equivalent to 30%, for the fiscal year ended June 30, 2024. The dividend was credited on October 25, 2024, to shareholders who provided valid International Bank Account Numbers (IBAN).

The Board of Directors approved this dividend during their meeting on September 12, 2024, and subsequent advertisements about the dividend distribution are scheduled to appear in the Business Recorder and Roznama Ausaf on October 26, 2024. According to information available from the Pakistan Stock Exchange (PSX), this move underscores NETSOL's commitment to rewarding its investors and maintaining transparent shareholder communications.

In line with regulatory requirements, the dividend transfer was executed electronically, enhancing the efficiency and security of the payment process. However, payments were withheld for shareholders lacking complete bank account details, including a 24-digit IBAN, as mandated under Section 242 of the Companies Act, 2017, and the Companies (Distribution of Dividends) Regulations, 2017. Those affected have been urged to provide the necessary information to Vision Consulting Ltd. in Lahore to facilitate the release of their dividends.

Further enhancing shareholder services, the Central Depositary Company (CDC) has developed the Centralized Cash Dividend Register (CCDR), an e-service web portal that aggregates details of cash dividends that are paid, unpaid, or withheld by listed companies. Shareholders can access this portal to retrieve and utilize dividend information for their records. Additionally, dividends, zakat, and tax deduction reports are available through stock brokers or directly to shareholders' registered email addresses.

NETSOL’s proactive measures in dividend distribution and the implementation of advanced digital solutions signify its dedication to operational excellence and shareholder satisfaction.