Lahore: JDW Sugar Mills Limited has successfully conducted its 35th Annual General Meeting on January 28, 2025, where shareholders unanimously passed and adopted several significant resolutions. The meeting addressed crucial aspects of the company's financial and operational activities, as required by Regulation No. 5.6.9 (b) of the PSX Rule Book.
During the meeting, the shareholders approved the annual audited financial statements for the fiscal year ending on September 30, 2024. The approval encompassed both the un-consolidated and consolidated financial statements, which were presented alongside the Chairman's Review, Directors', and Auditors' Reports. This endorsement reflects the company's commitment to transparency and adherence to financial accountability.
Furthermore, the shareholders sanctioned the distribution of cash dividends for the financial year ending on September 30, 2024. The total cash dividend declared amounted to Rs. 50.00 (500%) per share. This includes a final cash dividend of Rs. 30.00 (300%) per share, complemented by an interim cash dividend of Rs. 20.00 (200%) per share already disbursed. The dividend distribution comprises Rs. 37.00 (370%) per share from the Sugar Division and Rs. 13.00 (130%) per share from the Power Division.
According to information available from the Pakistan Stock Exchange (PSX), the meeting also saw the reappointment of M/s Riaz Ahmad, Saqib, Gohar and Company, Chartered Accountants, as the statutory auditors for the upcoming financial year 2024-2025. The Chief Executive Officer has been authorized to negotiate and set their remuneration in consultation with the auditors, ensuring that the company maintains its standards of financial scrutiny and precision.
The resolutions passed during this meeting underscore JDW Sugar Mills Limited's robust financial health and its commitment to delivering value to its shareholders. By addressing key financial and operational strategies, the company continues to strengthen its market position within the designated market category.