Islamabad: Shareholders of Bestway Cement Limited approved key resolutions during the Annual General Meeting on August 28, 2024, affirming significant dividends and financial decisions following a robust fiscal year.
The primary agenda of the meeting was to receive, consider, and adopt the audited accounts for the fiscal year that concluded on June 30, 2024. The meeting saw the approval of the audited financial statements of Bestway Cement for the year, along with Directors’ and Auditors’ Reports. This affirmation highlighted the company's adherence to financial governance and the positive reception of its yearly financial outcomes.
According to information available from the Pakistan Stock Exchange (PSX), a notable financial resolution was the approval and declaration of an 80% final cash dividend. This comes in addition to the 180% interim dividends that were already distributed over the fiscal year, culminating in a substantial total annual dividend for shareholders. The payout translates to Rs. 8 per share in final dividends out of the company’s profit for the year ended June 30, 2024.
Furthermore, the shareholders appointed M/s A. F. Ferguson and Co., Chartered Accountants, as the company’s auditors for the upcoming fiscal year ending June 30, 2025. The terms and conditions for the auditors’ remuneration were set to be approved by the Chief Executive Officer.
The decisions made during this meeting reflect Bestway Cement's solid financial health and its commitment to rewarding its shareholders amid operational successes.