Rawalpindi: Askari General Insurance Company Limited has announced that its 30th Annual General Meeting (AGM) will be held on Tuesday, April 29, 2025, at 10:30 a.m. The meeting is set to take place at Blue Lagoon, Rawalpindi, where shareholders will gather to discuss and transact the outlined business agenda.
The meeting's ordinary business includes the confirmation of the minutes from the 29th AGM held on April 25, 2024, and the review and adoption of the company's annual audited financial statements, both consolidated and unconsolidated, for the year ended December 31, 2024. These documents, including the Chairman’s review and reports from the Directors and Auditors, have been made available on the company’s website for stakeholders to access.
Shareholders will also consider and approve a final cash dividend of 25% (Rs. 2.50 per share) as recommended by the company's Directors. This is in addition to the interim cash dividends of 20% (Rs. 2.00 per share) already disbursed for the year ended December 31, 2024. Furthermore, the AGM will address the appointment of auditors for the year 2025, with the Audit Committee and Board of Directors recommending the reappointment of Yousuf Adil and Co. Chartered Accountants.
According to information available from the Pakistan Stock Exchange (PSX), to facilitate wider participation, the company has arranged for shareholders to attend the AGM through online video conferencing, in-person, or via appointed proxies. Shareholders wishing to participate are required to submit their particulars to the Company Secretary Office by April 21, 2025.
The company has announced a closure period for share transfer books from April 22 to April 29, 2025. Transfers received by the close of business on April 21, 2025, will be eligible for the final cash dividend and AGM voting rights.
Under the guidelines of the Income Tax Ordinance, withholding tax on dividend income will be deducted at 15% for filers and 30% for non-filers. Shareholders must ensure they appear on the Active Tax-payers List by April 21, 2025, to benefit from the lower rate.
Moreover, shareholders claiming tax or zakat exemptions must provide valid documentation by April 21, 2025. Joint shareholders are advised to submit shareholding proportions to avoid default equal distribution assumptions.
In compliance with the Companies Act, dividends will be paid electronically. Shareholders must provide their bank account details to the Share Registrar or through their brokers for CDC-held shares. Failure to provide this information will result in withheld dividend payments.
Askari General Insurance Company Limited operates within the designated market category of insurance and related financial services. The company has reminded shareholders of their obligation to update contact details and consolidate folio numbers, where applicable. Any unclaimed dividends for over three years will be transferred to the Federal Government as per statutory requirements.