Karachi, First Habib Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 25, 2019.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2019 which portrayed a profit of Rs. 89,612,481 with earnings per share 0.44 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
First Habib Modaraba is a perpetual, multi-purpose modaraba floated and managed by Habib Modaraba Management Private Limited. The Modaraba is engaged in the business of leasing (Ijarah), Musharaka, Murabaha financing and other related business. The stocks of the modaraba are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Karachi.
The corporate membership of the company is with the Islamic Financial Services Board (Malaysia), International Islamic Financial Market (Bahrain), NBFI and Modaraba Association of Pakistan, Management Association of Pakistan and Marketing Association of Pakistan.
The symbol “FHAM” is being used by the stock exchanges for the shares of Habib Modaraba.