Karachi: BankIslami Pakistan Limited has announced that its Board of Directors declared an interim cash dividend of Rs.1.50 per share, or 15%, for the period ending June 30, 2026. This announcement was made following a board meeting held on August 19, 2026. The details were published in "The News" (English) and "The Daily Jang" (Urdu) on August 25, 2026.
The bank has set the book closure period for determining the entitlement of the interim cash dividend from September 2, 2026, to September 4, 2026, inclusive. Transfers received at the bank's Shares Registrar by the close of business on September 1, 2026, will be processed in time for the entitlement.
Shareholders are urged to update their addresses, tax status, and provide copies of their CNIC/NTN if not already done, by contacting the Bank's Share Registrar, M/s. CDC Share Registrar Services Limited in Karachi. This requirement ensures that the shareholders' information is current and accurate.
According to information available from the Pakistan Stock Exchange (PSX), the bank's compliance with the regulatory framework is aligned with Section 242 of the Companies Act 2017 and the Companies (Distribution of Dividends) Regulations, 2017. The regulations mandate that dividends be distributed electronically into shareholders' bank accounts. Shareholders who fail to provide valid bank account details risk having their dividends withheld.
Moreover, the bank reminded shareholders about the withholding tax applicable on cash dividends under the Income Tax Ordinance, 2001. Filers of income tax returns will face a 15% deduction, while non-filers will incur a 30% deduction.
BankIslami also addressed shareholders with physical share certificates, urging them to convert these into book entry form as per Section 72 of the Companies Act, 2017. Additionally, shareholders are encouraged to collect any unclaimed physical share certificates from the Bank's Share Registrar and to update their bank account, contact number, address, and email address to ensure seamless communication and compliance.