Karachi: The Hub Power Company Limited has announced the scheduling of its 35th Annual General Meeting (AGM) on October 20, 2026, at the Marriott Hotel on Abdullah Haroon Road, Karachi. The meeting is set to commence at 10:00 am, with an option for members to attend via a video conference facility managed by the company.
The AGM's agenda will focus on the consideration and adoption of the standalone and consolidated audited financial statements for the fiscal year ending June 30, 2026. The meeting will also include the Directors' and Auditor's Reports, along with the Chairman's Review Report. A significant highlight will be the approval of a final cash dividend of PKR 5 per share, equivalent to a 50% rate for the fiscal year, in addition to an interim cash dividend of PKR 15 per share, a 150% rate.
A key point of the meeting involves the appointment of auditors for the fiscal year ending June 30, 2027. The Board Audit & Risk Committee and the Board of Directors have recommended the reappointment of M/s. A.F. Ferguson & Co. as the company's auditors.
Shareholders are reminded of several procedural requirements, including the electronic dividend mandate under the Companies Act, 2017, requiring cash dividends to be paid directly into shareholders' designated bank accounts. The company's share transfer books will close from October 13 to October 20, 2026, with the final dividend distributed to those listed in the Register of Members by October 12, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the company has been diligent in ensuring compliance with tax regulations. Withholding tax on dividends will be applied based on the shareholder's status, with a 15% rate for those on the Active Taxpayers List and a 30% rate for others.
The company is also adhering to electronic transmission mandates, providing its Annual Report 2026 via email to shareholders with registered addresses. Printed notices and access links for downloading the report have been dispatched to others. Shareholders can request a printed copy free of charge within seven days of such a request.
For those attending the meeting in person, identification with a CNIC or passport is required. Corporate entities must provide a Board of Directors resolution or Power of Attorney along with the nominee's signature. Members wishing to appoint proxies must submit relevant documents at least 48 hours before the meeting.
The company encourages virtual participation, inviting interested shareholders to register for the video conference by providing their CNIC details via email.