Karachi: The Board of Directors of MCB Bank Limited has declared a third interim cash dividend of 90 percent, equivalent to PKR 9.00 per share, for the quarter ending September 30, 2026. The announcement followed a board meeting held on October 22, 2026. Shareholders whose names appear on the Register of Members by the close of business on November 02, 2026, will be eligible to receive this dividend.
The bank has outlined that its Share Transfer Books will be closed from November 03 to November 05, 2026, inclusive, during which no transfer of shares will be registered. This measure is to facilitate the determination of the dividend entitlement.
A regulatory requirement necessitates shareholders to provide valid copies of identification and bank account information to receive the cash dividend. This includes a valid CNIC, NICOP, or Passport for individuals, and a National Tax Number (NTN) certificate for corporate entities. According to information available from the Pakistan Stock Exchange (PSX), the bank will withhold dividend payments for those failing to meet these conditions. Furthermore, shareholders are urged to submit their email addresses as per the Securities & Exchange Commission of Pakistan (SECP) regulations.
Unclaimed dividends and share certificates are also addressed in the bank's announcement. Shareholders who have not claimed these are encouraged to contact the bank's Share Registrar and Transfer Agent. Additionally, joint shareholders must declare their shareholding percentages for proper tax deduction, failing which equal distribution will be assumed.
The Lahore High Court's recent directive exempts mutual funds, as recognized by the Federal Board of Revenue (FBR), from needing an exemption certificate under Section 159 of the Income Tax Ordinance, 2001, to claim tax relief. However, shareholders must present either an approval certificate from the FBR or a valid tax exemption certificate by November 07, 2026. In the absence of these documents, tax deductions will proceed per the ordinance.
Lastly, in compliance with Section 72 of the Companies Act, 2017, the bank urges shareholders with physical shares to convert them into electronic form through the Central Depository Company of Pakistan Limited to ensure secure custody.