Karachi: Nagina Cotton Mills Ltd. has finalized its financial actions for the fiscal year ended June 30, 2024, including approving audited financial statements and declaring a cash dividend for its shareholders.

During the Annual General Meeting held on October 28, 2024, shareholders of Nagina Cotton Mills Ltd. reviewed and adopted the audited financial statements for the year. The meeting, held in Karachi, also saw the approval of a 15% cash dividend amounting to Rs. 1.50 per share, demonstrating the company's robust financial health and commitment to providing returns to its investors.

According to information available from the Pakistan Stock Exchange (PSX), the appointment of Ms. Yousuf Adil, Chartered Accountants, as the company’s auditors for the next financial year was also approved during this meeting. The firm is tasked with ensuring the financial transparency and compliance of Nagina Cotton Mills Ltd. through rigorous auditing processes. The company's Chief Executive Officer is authorized to negotiate and fix the auditor's remuneration.

Additionally, the board ratified transactions with related parties as disclosed in their financial statements. This approval enables the company to engage in and conclude necessary transactions with related entities for the upcoming financial year, ensuring operational continuity and adherence to corporate governance standards.

This strategic alignment and financial declaration highlight Nagina Cotton Mills Ltd.'s commitment to maintaining a transparent and investor-friendly environment, aiming to sustain and potentially increase shareholder value in the upcoming year.