Karachi: Shareholders of Sui Northern Gas Pipelines Limited gathered for the 59th Annual General Meeting on August 21, 2024, where several key resolutions were passed regarding the company's financial and administrative matters.

During the meeting, shareholders unanimously confirmed the minutes from the Extraordinary General Meeting held on September 30, 2023. They also received, considered, and adopted the annual audited accounts for the fiscal year ended June 30, 2023, along with directors' and auditors' reports. The company's financial statements and reports were approved as presented.

A significant resolution was the approval of a final cash dividend of Rs. 4.50 per share of Rs. 10 each, translating to a 45% dividend rate for the fiscal year ended June 30, 2023. This dividend will be distributed to shareholders listed in the company’s register as of the close of business on August 13, 2024.

According to information available from the Pakistan Stock Exchange (PSX), M/s A. F. Ferguson and Co., Chartered Accountants, part of the PwC Network, were appointed as the company's statutory auditors for the year ending June 30, 2024. Their audit will adhere to International Standards on Auditing applicable in Pakistan, focusing on internal controls and financial reporting processes.

The annual meeting highlighted Sui Northern Gas Pipelines Limited’s commitment to corporate governance and fiscal transparency in the energy sector market category.