Karachi, Meezan Bank Limited 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 Unconsolidated and consolidated profit and loss account for quarter ended March 31, 2019 which portrayed a profit of Rs. 2,851,342 and Rs. 3,100,427 with earnings per share 2.44 and 2.59 basic and diluted respectively.
Further, 10%payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from May 13, 2019 to May 20, 2019 (both days inclusive).
Meezan Bank Limited was incorporated in Pakistan on January 27, 1997, as a public limited company under the Companies Ordinance, 1984. The bank carried on the business of investment banking from July 13, 1987 and was registered as an ‘Investment Finance Company’ on August 8, 1997 in accordance and in conformity with the principles of Islamic Shariah. Certificate of Commencement of Business was issued to the Bank on September 29, 1997. The bank commenced operations as a Scheduled Islamic Commercial Bank from March 20, 2002. The stocks of the bank are quoted on the Karachi Stock Exchange of Pakistan. Its registered office is located at Karachi.
The bank is engaged in corporate, commercial, consumer, investment and retail banking activities. The bank was operating through three hundred and ten branches as at December 31, 2012.
The symbol “MEBL” is being used by the stock exchanges for the shares of Meezan Bank Limited.