Karachi: Shadab Textile Mills Limited, a notable entity in the textile sector, has scheduled its 45th Annual General Meeting (AGM) for shareholders on October 28, 2024. The meeting is set to convene at Lahore.

The AGM will focus on key financial and operational agendas, primarily the approval of audited accounts for the fiscal year ending June 30, 2024. These accounts detail the company's financial performance and have been scrutinized by the board's directors and external auditors. In accordance with section 223 of the Companies Act, 2017, these financial statements were made available earlier this year on March 21, 2023, and are accessible on the company’s official website.

One of the significant items on the agenda includes the declaration of a final cash dividend of Rs. 0.75 per share, which translates to an annual yield of 7.50%. This proposal comes as a recommendation from the Board of Directors and reflects the company's continued commitment to returning value to its shareholders.

Moreover, the assembly will appoint auditors for the upcoming fiscal year, ensuring continued compliance and transparency in the company’s financial practices. According to information available from the Pakistan Stock Exchange (PSX), these steps are in alignment with regulatory standards and investor expectations.

The AGM is a pivotal event for Shadab Textile Mills, providing a platform for shareholder engagement and strategic direction setting for the upcoming year.