Karachi: International Industries Limited (IIL) has announced that its 76th Annual General Meeting (AGM) will take place on Friday, September 27, 2024, at the Jasmine Hall, Beach Luxury Hotel in Karachi. The meeting, also accessible via video conferencing, aims to address several key items on its agenda, including the approval of the audited financial statements for the fiscal year ended June 30, 2024, and a proposed final cash dividend declaration.
According to information available from the Pakistan Stock Exchange (PSX), IIL is set to approve a final cash dividend of Rs. 3.50 per share, totaling a 55% dividend payout for the year when combined with the previously paid interim dividend of 20%. This move reflects the company's continued commitment to shareholder returns amidst its financial strategies and market performance.
The AGM will also include the reappointment of the company’s auditors, M/s A. F. Ferguson and Co., with their fees to be mutually agreed upon. Additional matters include the authorization for the digital dissemination of annual reports and financial statements via a QR code and web link, in compliance with SECP regulations, demonstrating IIL's adaptability to modern technological demands and environmental consciousness.
Registration for the video conferencing will require shareholders to submit identification and contact information by September 25, 2024, ensuring their participation in the digital AGM format. This approach not only aligns with current digital trends but also accommodates the diverse geographical distribution of its shareholder base efficiently.
This year's AGM is particularly significant as it encapsulates IIL's strategic responses to regulatory requirements and shareholder engagement in a digital era, setting a precedent for corporate governance and communication practices in Pakistan’s corporate sector.