Karachi: MCB Investment Management Limited has scheduled its Annual General Meeting (AGM) for October 28, 2024, to deliberate on the final cash dividend and other key financial decisions. The meeting will convene at Karachi.

The agenda for the upcoming AGM includes the confirmation of minutes from the last AGM, held on October 23, 2023, and the adoption of the annual audited financial statements for the fiscal year ending June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), shareholders are expected to approve a final cash dividend of Rs. 2.5 per ordinary share of Rs. 10 each, which translates to a total payout of 25 percent of the par value.

The board will also appoint external auditors for the fiscal year ending June 30, 2025, with a proposal to engage M/s. A.F. Ferguson & Co. Chartered Accountants. Additionally, a special resolution will be considered to amend the company’s Memorandum of Association, aiming to expand into REIT Management Services under the regulatory framework of the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003.

The notice of the AGM along with a statement of material facts will be published in two major newspapers on October 7, 2024, ensuring compliance with Section 134(3) of the Companies Act, 2017. This strategic planning aligns with MCB’s growth objectives in the financial services sector.