Karachi: The Board of Directors of Al-Zamin Modaraba Management (Pvt.) Ltd., the management company for Trust Modaraba, has approved the audited financial statements for the fiscal year ending June 30, 2024. The board convened on September 5, 2024, in Karachi, where they also declared a final cash dividend of Rs. 0.51 per share, amounting to a 5% dividend rate.

This year's dividend follows a period with no interim dividends paid. Additionally, the board announced there would be no issuance of bonus or rights shares nor any other entitlements or corporate actions for the period.

According to information available from the Pakistan Stock Exchange (PSX), the finalized financial results highlight significant movements within the company's asset portfolio. Current assets increased from Rs. 173.10 million in 2023 to Rs. 176.25 million in 2024. Notably, the company's investments decreased from Rs. 23.67 million to Rs. 20.97 million, while murabaha finances saw a reduction from Rs. 33.14 million to Rs. 25.40 million. However, diminishing musharakah finances increased dramatically from Rs. 15.00 million to Rs. 45.24 million within the year.

Non-current assets also showed growth, from Rs. 215.66 million in 2023 to Rs. 238.10 million in 2024, with diminishing musharakah financing nearly doubling to Rs. 129.42 million from Rs. 62.39 million.

The company's net assets have increased from Rs. 320.00 million in the previous year to Rs. 343.87 million, and total equity also rose from Rs. 326.51 million to Rs. 347.74 million. This increase includes a reserve growth from Rs. 28.51 million to Rs. 49.74 million.

The Annual Review Meeting is scheduled for October 15, 2024, at Karachi. The company will close its Share Transfer Books from October 8 to October 15, 2024, with eligibility for the announced entitlements based on the shareholders listed as of October 7, 2024.

The annual report will be transmitted through PUCARS at least 21 days prior to the Annual Review Meeting, ensuring shareholders have sufficient time to review the company's detailed financial health as outlined in their Profit and Loss Account, and other regulatory disclosures.