Lahore: Millat Tractors Limited has announced several key resolutions following its 62nd Annual General Meeting, held on October 24, 2025. The meeting, conducted at the company's registered office on Sheikhupura Road, Lahore, concluded with significant decisions regarding financial statements, dividend payments, and auditor appointments.
The company's shareholders confirmed the minutes of the previous Extraordinary General Meeting from March 17, 2025. The financial statements for the year ending June 30, 2025, alongside the Chairman's Review, Directors', and Auditors' Reports, were formally adopted. These steps are crucial for maintaining transparency and accountability within the organization.
A notable decision was the approval of a final cash dividend of Rs. 15.00 per share, equating to 150%, supplementing an interim dividend of Rs. 45.00 per share, or 450%, which had already been distributed. This results in a total cash dividend of Rs. 60.00 per share, marking a 600% payout on the company's ordinary share capital of Rs. 199,515,947—a very large or significant move.
According to information available from the Pakistan Stock Exchange (PSX), the company also resolved to appoint M/s. A.F. Ferguson, Chartered Accountants, Lahore, as the auditors for the fiscal year ending June 30, 2026. Their remuneration was set at Rs. 7,150,000, covering various audit-related services, including a Rs. 5,280,000 audit fee.
Additionally, transactions conducted with subsidiary and associated companies for the year ending June 30, 2025, were ratified. Noteworthy transactions included the purchase of components amounting to Rs. 411.20 million from TIPEG and Rs. 358.52 million from Millat Industrial Products Limited, alongside sales of Rs. 1.72 billion to Bolan Castings Limited and Rs. 1.06 billion to ADE Intertrade DMCC.
The meeting empowered the Chief Executive to approve ongoing transactions with subsidiaries on a case-by-case basis until the next Annual General Meeting. These transactions are to be presented for shareholder ratification in the subsequent meeting, ensuring continuing oversight and governance.