Karachi: Bank Alfalah Limited has announced an interim cash dividend of Rs. 2.5 per share, equivalent to 25%, for its shareholders for the first quarter ending March 31, 2025. The decision, as communicated by the Board of Directors, was made during the meeting on April 17, 2025. Shareholders listed in the Register of Members by the close of business on April 29, 2025, are eligible for this dividend.
The Share Transfer Books of Bank Alfalah will be temporarily closed from April 30 to May 2, 2025. Transfers recorded by the bank’s Share Registrar, M/s. F. D. Registrar Services (Pvt.) Limited, by April 29, 2025, will be eligible for the dividend. Shareholders are urged to ensure their records are updated in time.
The bank has reiterated the requirement for shareholders to submit a valid copy of their computerized National Identity Card (CNIC), emphasizing the necessity for those who have yet to comply. Moreover, in line with Section 242 of the Companies Act, 2017, cash dividends will be processed electronically. Shareholders are required to provide complete and accurate banking details to facilitate electronic transfers.
According to information available from the Pakistan Stock Exchange (PSX), some shareholders have not yet furnished their bank account details, resulting in pending dividend payments. These shareholders are strongly advised to update their information either through their Central Depository System accounts or directly with the bank's Share Registrar.
In compliance with the Income Tax Ordinance, 2001, the bank stated that dividends will be subject to withholding tax at a rate of 15% for income tax filers and 30% for non-filers. The bank also reminds shareholders holding physical shares to convert them into book-entry form as per the Companies Act, 2017 guidelines. Shareholders were previously informed of this requirement through a notice in July 2021 and subsequent mail communications.
Bank Alfalah, listed under the designated market category, continues to ensure its shareholders are informed and aligned with regulatory requirements, ensuring smooth dividend distribution and compliance.