Karachi: Thal Limited has scheduled its 60th Annual General Meeting (AGM) for October 22, 2026. This event will be hosted at the Pearl-Continental Hotel in Karachi and will also be accessible via electronic means. The agenda includes the adoption of the company's financial statements for the fiscal year ending June 30, 2026, and the declaration of a substantial dividend.
The Board of Directors has recommended a final cash dividend of 300%, amounting to Rs. 15.00 per share, for the fiscal year, adding to an interim dividend of the same amount already distributed. This culminates in a total dividend of 600%, equivalent to Rs. 30.00 per share for the year.
The meeting will also address the reappointment of M/s. A.F. Ferguson & Co. as auditors for the year ending June 30, 2027, a decision aligned with the Board Audit Committee's recommendations. Shareholders can participate in the meeting in person or virtually, following guidelines from the Securities and Exchange Commission of Pakistan (SECP).
According to information available from the Pakistan Stock Exchange (PSX), Thal Limited has shown a strong financial performance leading to these dividend announcements. The company's ongoing investments, particularly in the Sindh Engro Coal Mining Company Limited (SECMC), also underscore its strategic ventures.
Thal Limited has been actively involved in the SECMC project since its inception, with Phase I achieving significant milestones. The project, which began commercial operations in July 2019, is pivotal for Pakistan's energy sector. The company's investment in SECMC Phase I was reduced to USD 17.7 million from the initially planned USD 36.1 million due to cost savings. Phase II has also made progress, reaching financial close in December 2019, with a committed exposure of USD 10.5 million.
The AGM notice emphasizes the importance of shareholder participation, urging updates on personal details and compliance with tax obligations to facilitate dividend distribution. Withholding tax is levied at differential rates based on the Active Taxpayer List, and shareholders are encouraged to ensure their listings to benefit from lower deductions.
Thal Limited continues to focus on compliance with regulatory requirements, including the transition to electronic dividend payments and the conversion of physical shares to book-entry form. These efforts highlight the company's commitment to modernizing its operations in line with legislative mandates.
The AGM will also discuss other routine matters such as the appointment of proxies, submission of CNIC copies for dividend payments, and procedures for claiming unclaimed dividends and shares.