Islamabad: Biafo Industries Limited has scheduled its 38th Annual General Meeting (AGM) for October 23, 2026, at Dewan-e-Khass, Islamabad Hotel, G-6 Civic Centre, Melody Market, Islamabad. The meeting will commence at 11:00 a.m. and will cover several key agenda points.
Shareholders will be asked to confirm the minutes from the previous AGM held on October 23, 2025, and to approve the adoption of the audited financial statements for the fiscal year ending June 30, 2026. The reports from the company’s auditors and directors will also be reviewed during the session.
A significant point on the agenda is the approval of a final cash dividend of Rs. 2.50 per share (25%) in addition to the interim cash dividend of Rs. 2.50 per share (15%) declared on February 17, 2026. This results in a total cash dividend of Rs. 5.00 per share (50%) for the fiscal year ending June 30, 2026. Furthermore, the meeting will address the appointment of auditors for the 2026-27 period, with M/s Yousuf Adil Chartered Accountants offering themselves for reappointment.
According to information available from the Pakistan Stock Exchange (PSX), the planned dividend represents a significant move for the shareholders of Biafo Industries Ltd. The AGM will also consider any additional business that may arise with the Chairman's consent.
The company has also announced measures to facilitate shareholder participation, including a video link facility as permitted by the Securities & Exchange Commission of Pakistan (SECP) through its Circular No. 6 dated March 03, 2021. Shareholders intending to join via video link must register by emailing their details, including a valid CNIC, at least 48 hours before the meeting.
In compliance with the Companies Act, 2017, the company urges shareholders to update their bank account details for electronic dividend payments and to replace physical shares with book entry form by opening a CDC sub-account. Unclaimed dividends and share certificates will be transferred to the Federal Government and the SECP, respectively, as per regulatory requirements.
Shareholders are reminded that no gifts will be distributed at the AGM, following SECP regulatory guidelines. Additionally, the company has outlined different withholding tax rates for filers and non-filers of income tax returns, advising shareholders to ensure their names are included in the Active Taxpayers List (ATL) prior to the dividend approval to avoid higher tax deductions.