Karachi, Jubilee Life Insurance Company Limited (Company) has disbursed the Interim Cash Dividend for the year 2023 at an impressive rate of Rs. 3.00 per share, equivalent to 30%, to its shareholders. The dividend payment, which applies to the half-year ended June 30, 2023, was electronically credited to the designated bank accounts of eligible shareholders on September 13, 2023. To qualify for this dividend, shareholders were required to submit their valid Computerized National Identity Card (CNIC) along with their 24-digit International Bank Account Numbers (IBAN).
The company has diligently adhered to the legal requirements and uploaded detailed information regarding the dividend payment, including the net credited amount, the number of shares held, total cash dividend, as well as any withholding tax and zakat deductions. This information is now accessible on the CDC Repository Web portal maintained by CDC Share Registrar Services Limited, as mandated by law. Shareholders seeking these details for record-keeping or tax purposes can access them in electronic form.
To facilitate electronic access to dividend information and streamline shareholder services, Jubilee Life Insurance encourages shareholders to register for e-Dividend at [https://eservices.cdcaccess.com.pk/public/investorRegistration.html] (https://eservices.cdcaccess.com.pk/public/investorRegistration.html).
In strict compliance with the Companies Act, 2017, and Companies (Distribution of Dividends) Regulations, 2017, the company has withheld the cash dividend for shareholders who have not provided their valid National Identity Card (CNIC) or complete bank account details, including the essential 24-digit IBAN.
For those affected shareholders, the withheld dividend amounts will be released and disbursed electronically within 15 days of receiving the requisite information.
Jubilee Life Insurance reaffirms its commitment to upholding regulatory standards and ensuring a transparent and efficient dividend distribution process for its valued shareholders.