Karachi: Bank AL Habib Limited has announced a 35% interim cash dividend for the year ending December 31, 2025, as declared by the Board of Directors in a meeting on April 24, 2025. This dividend translates to Rs.3.50 per share for shares valued at Rs.10 each. To facilitate this, the bank's share transfer books will be closed from May 6 to May 8, 2025. Transfers received by the close of business on May 5, 2025, at the office of CDC Share Registrar Services Limited in Karachi, will be considered timely for dividend payment.

Shareholders are reminded to update their personal information, including mailing addresses and contact details, with the Share Registrar. The bank emphasizes the necessity of receiving dividends electronically, as mandated by Section 242 of the Companies Act, 2017, and related regulations. Shareholders who have not provided bank account details must submit the "E-Dividend Bank Mandate Form," available on the bank's website, by May 5, 2025, along with a copy of their valid CNICs.

According to information available from the Pakistan Stock Exchange (PSX), withholding tax rates on cash dividends are determined by the shareholders' status on the Active Taxpayer List (ATL) of the Federal Board of Revenue (FBR). Shareholders listed as active will face a 15% deduction, whereas those not listed will incur a 30% deduction. Joint shareholders must also submit their shareholding proportions to the Bank's Share Registrar by May 5, 2025. Failing to provide this information will result in an assumption of equal shareholding.

Corporate entities seeking exemption from withholding tax must provide a valid exemption certificate by May 5, 2025. The Securities & Exchange Commission of Pakistan (SECP) and Central Depository Company of Pakistan (CDC) require shareholders to use the Centralized Cash Dividend Register (CCDR) to track dividend payments and withholdings.

Bank AL Habib Limited also calls on shareholders with unclaimed shares or unpaid dividends to file claims with the bank's Share Registrar. Shareholders with physical certificates are encouraged to convert them to Book-Entry Form in compliance with Section 72 of the Companies Act, 2017.