Karachi: Habib Metropolitan Bank Limited has declared a second interim cash dividend for the fiscal year ending December 31, 2024. The announcement follows the Board of Directors' meeting on August 22, 2024, and precedes the publication of the official notice scheduled for August 28, 2024.
The bank has decided to distribute a cash dividend of Rs. 2.50 per share, amounting to 25% of the share value. This payment is in addition to the first interim dividend of Rs. 2.50 per share, also representing 25%, previously issued. Eligible shareholders are those recorded in the Bank's Register of Members as of September 4, 2024.
According to information available from the Pakistan Stock Exchange (PSX), the Share Transfer Books of the Bank will remain closed from September 5, 2024, to September 9, 2024. Share transfers processed by M/s. CDC Share Registrar Services Limited at the close of business on September 4 will qualify for the dividend.
In compliance with the Companies Act, 2017, dividends will be disbursed only through electronic transfers directly into shareholders' designated bank accounts. Shareholders are urged to ensure their bank details are current and provided to the Bank's Share Registrar using the E-Dividend Mandate Form available on Habib Metropolitan Bank's website. Additionally, tax will be deducted at source as per the Income Tax Ordinance, 2001.
The bank has also initiated outreach to shareholders who have not yet claimed previous dividends or bonus shares, reminding them to rectify their records and submit valid CNIC copies to avoid withholding of their dividends.