Lahore: In a significant development, Bestway Cement Limited has successfully concluded its annual general meeting, held on August 31, 2026, marked by the approval of key resolutions. The meeting saw the participation of shareholders, who ratified several crucial decisions for the company's future.
During the assembly, the shareholders unanimously approved the audited financial statements for the fiscal year ending June 30, 2026. This included the endorsement of the Directors' and Auditors' Reports, highlighting the company's financial performance over the past year.
Moreover, a resolution to approve and declare a final cash dividend of 100% was passed. This comes in addition to the 300% interim dividends that have already been disbursed for the year ended June 30, 2026. This decision translates to a final dividend payout of Rs. 10 per share, further reflecting the company's robust financial standing.
The election of eight directors for a three-year tenure was another focal point of the meeting. The individuals elected to the board include Sir Mohammed Anwar Pervez, Lord Zameer Mohammed Choudrey, Mr. Muhammad Irfan Anwar Sheikh, Mr. Dawood Pervez, Mr. Haider Zameer Choudrey, Ms. Fauzia Ahmad, Mr. Syed Asif Shah, and Mr. Tariq Rashid. Their appointment is in accordance with Section 159 of the Companies Act, 2017, commencing from September 1, 2026.
In another critical resolution, M/s A. F. Ferguson & Co., Chartered Accountants, was appointed as the company's auditors for the upcoming fiscal year ending June 30, 2027. The terms of their engagement will be finalized by the Chief Executive Officer.
Furthermore, the meeting addressed a special resolution concerning Bestway Cement Limited's decision to decline the offer of Right Shares from its subsidiary, Bestway Automotive (Private) Limited. The authorization to execute this decision was delegated to the Company Secretary, ensuring compliance with all legal requirements.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions reflect Bestway Cement Limited's strategic direction and commitment to enhancing shareholder value within the cement industry market category.