Peshawar: Kohat Textile Mills Limited, during its Annual General Meeting held on October 25, 2024, approved critical resolutions concerning its financial operations, including the adoption of financial statements, declaration of a cash dividend, and reappointment of auditors.

The meeting saw the approval of the company's Annual Audited Financial Statements for the fiscal year ending June 30, 2024. These statements, alongside the directors' and auditors' reports, received the necessary consent from the board of directors and were adopted by the members present.

A key highlight of the meeting was the declaration of a cash dividend. The board of directors recommended, and the members approved, a final cash dividend of 10%, equating to Re. 1 per share. This dividend will be distributed from the company's profits for the fiscal year ended June 30, 2024, to shareholders listed in the Register of Members as of October 19, 2024.

Furthermore, the meeting concluded with the reappointment of M/s. Shinewing Hameed Chaudhri and Co., Chartered Accountants, as the external auditors. The reappointment ensures continuity in audit oversight, with the auditors set to hold office until the conclusion of the next Annual General Meeting. Their fee will be determined by the Chief Executive Officer.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions align with the regulatory compliance requirements, ensuring transparency and accountability in the company's financial dealings.

The resolutions passed during the meeting were certified and submitted in compliance with listing regulations, as declared by the company representatives.