Lahore: Millat Tractors Limited, a prominent player in the Pakistan Stock Exchange's engineering sector, held its Annual General Meeting on October 27, 2026, at the company's registered office. The meeting saw the passage of several significant resolutions that pertain to the company's financial strategies and governance for the upcoming fiscal year.
On October 29, 2026, the company confirmed the minutes from its preceding Extraordinary General Meeting held on June 5, 2026, marking a procedural milestone. The meeting further ratified and adopted the audited financial statements for the fiscal year ending June 30, 2026, along with accompanying reports from the Chairman, Directors, and Auditors.
A notable decision was the approval of a final cash dividend of Rs. 11.00 per share, piling onto the interim dividend of Rs. 10.00 per share. This sums up to a total cash dividend of Rs. 21.00 per share, representing a 420% return on the ordinary share capital of Rs. 399,031,894.
Furthermore, M/s. A.F. Ferguson, Chartered Accountants, based in Lahore, were appointed as the auditors for the fiscal year ending June 30, 2027. The audit fee for the upcoming year is determined at Rs. 5.54 million, with additional fees for various report certifications totaling Rs. 7.51 million.
According to information available from the Pakistan Stock Exchange (PSX), transactions with subsidiary and associated companies were ratified. These included significant purchases and sales of components with TIPEG Intertrade DMCC, Millat Industrial Products Limited, and Bolan Castings Limited. Purchases amounted to Rs. 1.08 billion, Rs. 444.83 million, and Rs. 1.68 billion, respectively, while components were sold for Rs. 4.07 billion and Rs. 943,738 with TIPEG Intertrade DMCC and Bolan Castings Limited.
The meeting also resolved to authorize the company's Chief Executive to approve future transactions with subsidiary and associated companies for the year ending June 30, 2027. These transactions will subsequently be subject to shareholder ratification at the next Annual General Meeting.