Hub: Balochistan Wheels Limited held its 44th Annual General Meeting on September 21, 2024, where multiple resolutions were passed as disclosed in a document provided by the Pakistan Stock Exchange. According to the resolutions, shareholders confirmed the minutes from the previous annual meeting and adopted the audited financial statements for the year ending June 30, 2024. The company also declared a significant dividend and appointed new auditors.

The meeting began by confirming the minutes of the last Annual General Meeting, held on September 23, 2023. The shareholders unanimously approved these minutes, setting a precedent for the decisions that followed. According to information available from the Pakistan Stock Exchange (PSX), the company then moved to discuss and approve the financial statements of the previous fiscal year, which included both the directors' and auditors' reports as well as the chairman’s review report.

In financial resolutions, the shareholders approved a final cash dividend of Rs 3.00 per share, which represents a 30% dividend. This decision came in addition to the interim dividends of Rs 10.00 per share already distributed for the fiscal year ended June 2024. This demonstrates the company’s continued commitment to returning value to its shareholders amidst a challenging economic climate.

The fourth resolution passed involved the appointment of auditors for the upcoming fiscal year. M/s BDO Ebrahim and Co., Chartered Accountants, were appointed as the company's auditors until the next Annual General Meeting scheduled for 2025. This change indicates a forward-looking approach to corporate governance and financial oversight.

Balochistan Wheels Limited, based in Hub, Balochistan, continues to engage its shareholders transparently, ensuring rigorous financial oversight and rewarding shareholder loyalty with consistent dividend payouts.