Lahore: Sazgar Engineering Works Limited has scheduled its 33rd Annual General Meeting (AGM) for October 26, 2024, at the Hallmark Events venue near Shanu Baba Chowk, Lahore. The AGM will address routine governance matters, including the adoption of financial statements and the reappointment of auditors.

The company plans to receive, consider, and adopt the audited financial statements for the fiscal year that concluded on June 30, 2024. These documents will include the Directors' Report, Auditors' Report, and Chairperson's Review Report, providing shareholders with a comprehensive overview of the company's financial health and strategic direction.

In line with corporate governance requirements, Sazgar Engineering will also seek shareholder approval to reappoint M/s Crowe Hussain Chaudhury and Co. as the company's auditors. The audit committee and board of directors have endorsed this decision, suggesting a continuation of their longstanding relationship.

According to information available from the Pakistan Stock Exchange (PSX), a notable agenda item is the approval of a final cash dividend of 120% of the current paid-up share capital, equivalent to Rupees 12 per ordinary share. This proposed dividend builds on an interim dividend of 80% already paid, totaling 200% for the year ended June 30, 2024.

The meeting's outcome will influence not only the company's dividend policy but also its strategic initiatives moving forward. Shareholders are encouraged to attend the AGM to participate in the governance of the company and to stay informed about its financial strategies and outcomes.