Karachi: Meezan Bank Limited convened its 30th Annual General Meeting on Friday, March 27, 2026, marking a significant event in the bank's calendar. The meeting, conducted both physically and virtually, witnessed the unanimous approval of several resolutions by its shareholders.
The meeting commenced with the confirmation of the minutes from the 29th Annual General Meeting held on March 27, 2025. The shareholders approved these minutes without dissent, ensuring continuity and acknowledgment of the bank's previous annual activities.
Subsequently, the bank's financial health and performance were addressed through the adoption of the Annual Audited Accounts for the year ending December 31, 2025. This included the Audited Statement of Financial Position, Profit and Loss Account, and other related financial documents. Shareholders approved these documents, which were accompanied by the Auditor's Report, Directors' Report, and Chairman's Review Report.
In a move to ensure continuity in its financial oversight, the meeting saw the reappointment of M/s A. F. Ferguson & Co., Chartered Accountants, as the statutory auditors for the year ending December 31, 2026. Their remuneration was fixed at Rs. 25 million, excluding out-of-pocket expenses and applicable taxes.
A significant financial decision taken at the meeting was the approval of a final cash dividend of Rs. 7 per share, equating to 70%. This is in addition to the Rs. 21 per share interim cash dividend, amounting to 210%, already paid during 2025. According to information available from the Pakistan Stock Exchange (PSX), this results in a total cash dividend of Rs. 28 per share or 280%.
In addressing special business, shareholders approved the Directors' Remuneration Policy. The resolution set the maximum ceiling for fees payable to directors for meeting attendance at Rs. 1,200,000 per meeting, with the Chairman entitled to a 20% higher rate. The Board of Directors was authorized to adjust these fees within the approved limits without needing further shareholder approval, ensuring flexibility and compliance with regulatory standards.
Meezan Bank Limited, categorized under the designated market by the Pakistan Stock Exchange, continues to demonstrate robust governance and financial strategies, as evidenced by the resolutions adopted in this meeting.