Karachi: Hoechst Pakistan Limited, previously known as Sanofi-Aventis Pakistan Limited, has successfully credited an interim cash dividend for the half-year ended June 30, 2024. Shareholders entitled to dividends received Rs. 25.00 per share, equivalent to a 250% dividend, on September 18, 2024, through electronic transfers into their bank accounts. This announcement follows the board's decision from their meeting on August 22, 2024.

According to information available from the Pakistan Stock Exchange (PSX), this distribution method aligns with modern financial practices and regulatory requirements outlined in the Companies Act, 2017, and the Companies (Distribution and Dividends) Regulations, 2017. These rules mandate the electronic crediting of dividends to streamline processes and enhance transparency.

Hoechst Pakistan has taken additional steps to ensure compliance with regulatory frameworks by withholding dividends for shareholders who have not provided necessary banking details, including valid Computerized National Identity Cards (CNICs) and International Bank Account Numbers (IBANs). Shareholders who have not yet complied are urged to contact FAMCO Share Registration Services (Private) Limited to update their records and ensure they can receive future dividends without interruptions.

Further, the company highlighted the availability of the Central Depository Company's (CDC) Centralized Cash Dividend Register (CCDR), which allows shareholders to check the status of their dividends. This system provides details on payments and deductions, aiding shareholders in managing their investments more effectively.

The notice of this dividend credit was pre-announced to shareholders and is set to be published in leading newspapers, Business Recorder and Nawa-i-Waqt, on September 20, 2024, ensuring all stakeholders are well-informed of the developments.