Karachi, Bank Alfalah Limited, a leading financial institution in Pakistan, has made significant recommendations following a Board of Directors meeting held on August 10, 2023, in Abu Dhabi, UAE. The meeting saw decisions concerning dividend distribution and other financial matters for the half year ended June 30, 2023.

The Board of Directors has approved an interim cash dividend of Rs. 3/- per share, equivalent to 30% of the share's nominal value. This dividend is a reflection of the bank's strong financial performance for the first half of the year.

In addition to the dividend announcement, the Board of Directors has recommended nil issuance of bonus shares and right shares, as well as nil entitlement for any other corporate action. The bank has also reported no other price-sensitive information at this time.

Shareholders of Bank Alfalah Limited are advised to take note of the "Closed Period" from August 11, 2023, to August 21, 2023, in accordance with the regulatory guidelines outlined in clause 5.6.1(a) of the PSX Regulations. During this period, no Director, CEO, or Executive of the bank, directly or indirectly, is allowed to deal in the bank's shares.

The unconsolidated and consolidated financial results of the bank, as of June 30, 2023, have been provided in the enclosed annexures, offering a comprehensive overview of the bank's performance during the specified period.

The entitlements announced by the Board will be paid to the shareholders whose names appear in the Register of Members at the close of business on August 22, 2023. To facilitate the necessary administrative processes, the Share Transfer Books of the bank will remain closed from August 23, 2023, to August 25, 2023 (both days inclusive).

Market participants and investors are expected to pay close attention to these developments as they reflect Bank Alfalah's commitment to delivering value to its shareholders and its robust financial performance during the first half of the year.

The interim dividend announcement of Rs. 3 per share marks another milestone for Bank Alfalah, underscoring its consistent growth trajectory and dedication to rewarding its shareholders. The closed period, in line with regulatory requirements, aims to ensure a fair and transparent market environment while maintaining the highest standards of corporate governance and compliance.