Karachi, Faysal Bank Limited ("FBL") has officially declared an interim cash dividend of 10% for the second quarter of 2023, ending June 30, 2023. This translates to Re. 1 per share of Rs. 10/- each. Shareholders will be pleased to learn of this financial milestone, which was announced during the Board of Directors meeting held on August 24, 2023.

To facilitate the distribution of dividends, the bank has scheduled the closure of Share Transfer Books from September 07, 2023, to September 09, 2023, with both days inclusive. Any transfer requests received until the close of business on September 06, 2023, will be considered timely for determining dividend entitlement.

Shareholders are encouraged to promptly update their registered postal addresses with the Bank's Share Registrar to ensure the smooth delivery of dividend payments.

It's important to note that withholding tax deductions will apply to these dividend payments, with the rates determined based on the "Active Taxpayer List" (ATL) available on the Federal Board of Revenue (FBR) website. Shareholders appearing in the ATL will incur a 15% withholding tax, while those not appearing will have a 30% withholding tax rate applied.

For joint shareholders, tax deductions will be made according to their respective ratios or shares as communicated to the Bank's Share Registrar. In the absence of such information, their shareholdings will be treated as equal for tax purposes.

This announcement is expected to bring considerable financial relief to FBL shareholders, and the bank looks forward to continuing its commitment to providing value to its investors.