Karachi, Sazgar Engineering Works Limited has announced key recommendations made by the company's Board of Directors during their meeting held on September 6, 2023, in Lahore.
The following recommendations were presented and approved:
1. Cash Dividend:
A final cash dividend for the fiscal year ended June 30, 2023, at the rate of Rs. 4/- per share, constituting 40% of the face value.
2. Bonus Shares: NIL
3. Right Shares: NIL
4. Any Other Entitlement/Corporate Action: NIL
5. Any Other Price-Sensitive Information: NIL
This decision to issue a 40% cash dividend reflects the company's strong financial performance and commitment to rewarding its shareholders.
The Annual General Meeting of Sazgar Engineering Works Limited is scheduled to take place on October 26, 2023, in Lahore. The entitlement for the cash dividend will be available to shareholders whose names appear in the Register of Members on October 19, 2023.
To facilitate the dividend distribution process and other administrative matters related to the AGM, the Share Transfer Books of the Company will remain closed from October 20, 2023, to October 26, 2023 (both days inclusive).
Furthermore, in accordance with regulatory requirements, the company will transmit its Annual Report through PUCARS at least 21 days before the Annual General Meeting. This will provide shareholders with comprehensive insights into the company's performance and prospects.
The financial results for the fiscal year ended June 30, 2023, are summarized in Annexure I, showcasing Sazgar Engineering Works Limited's impressive growth and profitability over the year.