Lahore: The Board of Directors of Service Industries Limited has approved the company’s financial results for the year ending December 31, 2024, and recommended a final cash dividend. This announcement came following a board meeting held on March 25, 2025, at the company’s registered office. The Board has declared a final cash dividend of Rs. 15 per share, equating to 150% of the share’s value.

According to the financial statements, the board has also sanctioned significant investments, pending legal formalities. These include a joint venture between Service Tyres (Private) Limited, a wholly-owned subsidiary, and TrailerMaster CVS. Inc., China. The collaboration will focus on the production of brake drums for buses, trucks, and lorries under Service TruckMaster (Private) Limited, a new entity to be established. Service Tyres is set to invest up to USD $4.00 million in equity and provide guarantees worth up to USD $7.00 million in equivalent Pakistani Rupees.

Additionally, the Board has decided to renew its investment of up to Rs. 4 billion as a working capital loan to Service Retail (Private) Limited, another wholly-owned subsidiary. This investment is intended to support the subsidiary for a period of one year, contingent on the need.

The company’s Annual General Meeting (AGM) is scheduled for April 28, 2025, at Shalimar Tower Hotel in Lahore. The event will commence at 11:30 a.m. The Share Transfer Books will be closed from April 22 to April 28, 2025, inclusive, for the determination of entitlement to the final cash dividend and AGM participation.

According to information available from the Pakistan Stock Exchange (PSX), these financial maneuvers are part of the company’s strategy to expand its market reach and solidify its financial standing.

The annual report for the fiscal year ending December 31, 2024, will be disseminated through PLICARS separately, adhering to the designated market category guidelines and within the specified timeframe.