Karachi, Popular Islamic Modarabainformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 23, 2018.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2017 which portrayed a profit of Rs. 796,813 with earnings per share 0.08 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Popular Islamic Modaraba is a company incorporated in Pakistan, established in 1994, floated under the Modaraba Ordinance of 1980. Popular Islamic Modaraba (Formerly: First Islamic Modaraba) is a multipurpose, perpetual and multi dimensional Modaraba, It is now managed by Popular Islamic Modaraba Management Company (Private) Limited. Formerly, managed by Islamic Investment Bank Limited (Under Liquidation). In year 2013 Popular Islamic Modaraba (Formerly: First Islamic Modaraba) has been take over the management by Popular Group of Industries. It is listed on the Pakistan Stock Exchange. It is a member of NBFI & Modaraba association of Pakistan. It is an Islamic Financial Institution providing financial facilities in accordance with Shariah constraints.
The symbol “PIM” is being used by the stock exchange for the shares of Popular Islamic Modaraba.