Lahore: Masood Textile Mills Limited, a prominent entity in the textile sector, convened its 42nd Annual General Meeting, where shareholders approved several key resolutions. The meeting, held on October 27, 2026, was marked by the adoption of resolutions that hold significant implications for the company's financial and operational strategies.

During the proceedings, the minutes from the previous Annual General Meeting on October 28, 2025, were confirmed. This procedural step set the stage for addressing more substantive financial matters on the agenda.

The company's annual audited financial statements, along with the Chairman Review Report, Directors’ Reports, and the Auditors’ reports for the fiscal year ending June 30, 2026, received approval from the members. The acceptance of these documents underscores the company's commitment to transparency and accountability in its financial practices.

A notable decision from the meeting was the approval of a final cash dividend for the year ending June 30, 2026. Shareholders will receive a 10% dividend, equating to Rs. 1.00 per ordinary share, as recommended by the Board of Directors. This decision reflects the company's financial health and its dedication to delivering value to its stakeholders.

The meeting also addressed the appointment of external auditors for the upcoming fiscal year. M/s. Riaz Ahmad & Company, Chartered Accountants, were re-appointed to serve as auditors for the financial year ending June 30, 2027. The terms of their remuneration, as proposed by the Board of Directors, were duly approved by the shareholders.

According to information available from the Pakistan Stock Exchange (PSX), Masood Textile Mills Limited's decisions at the AGM align with shareholder interests and regulatory compliance. The resolutions passed are expected to influence the company's market standing and investor confidence.

The designated market category for Masood Textile Mills Limited remains focused on its core textile operations, a sector that plays a critical role in the economic framework of the region.