Karachi: DAM Sugar Mills Limited has announced the distribution of its final cash dividend for the fiscal year ending September 30, 2024. The dividend is set at Rs. 1.50 per share, representing a 15% return, and has been credited electronically to the designated bank accounts of shareholders who have submitted their Computerized National Identity Cards (CNIC) and International Bank Account Numbers (IBAN).

This announcement comes as DAM Sugar Mills Limited aims to ensure compliance with Section 242 of the Companies Act 2017. The company has also adhered to the Securities & Exchange Commission of Pakistan”s notification issued through SRO 1302(0/2021) dated September 30, 2021. However, dividends for shareholders who have not yet provided complete banking information, including their IBAN, have been withheld.

According to information available from the Pakistan Stock Exchange (PSX), DAM Sugar Mills Limited has taken these steps to streamline the dividend distribution process and maintain transparency. This move underscores the company”s commitment to meeting regulatory requirements and ensuring shareholder satisfaction.

Shareholders are encouraged to update their banking details to avoid any delays in future dividend disbursements. The company remains optimistic about its financial performance and is dedicated to enhancing shareholder value in the coming fiscal years.