Karachi: Sitara Chemical Industries Limited held its Annual General Meeting on October 24, 2024, in Karachi, where shareholders approved several key resolutions, including the adoption of the company's financial statements, the declaration of a dividend, and the appointment of external auditors.

The meeting, conducted both in-person and via video link, saw the unanimous approval of the company's audited financial statements for the fiscal year ending June 30, 2024. Shareholders also endorsed the accompanying Directors' and Auditors' Reports, which provide a comprehensive overview of the company's financial health and operational performance during the period.

In a significant move, the shareholders approved a final cash dividend of Rs.10 per share, amounting to 100% of the face value, as recommended by the Board of Directors. This decision reflects the company's commitment to rewarding its investors.

Additionally, the meeting confirmed the appointment of M/s. Yousuf Adil, Chartered Accountants, as the external auditors for the financial year 2024-25. The Board of Directors was granted the authority to determine the auditors' remuneration for the specified period, ending on June 30, 2025.

According to information available from the Pakistan Stock Exchange (PSX), the resolutions passed during the AGM align with the regulatory requirements and corporate governance practices established by the PSX.

These developments underscore Sitara Chemical Industries Limited's focus on maintaining transparency and accountability in its financial reporting while ensuring the interests of its shareholders are safeguarded.