Islamabad: United Bank Limited (UBL) has announced that its 67th Annual General Meeting (AGM) will be held on March 26, 2026, at 9:30 a.m. at Islamabad Marriot Hotel. The meeting will address several key business items, including the confirmation of the minutes from the Extraordinary General Meeting held on May 15, 2025, and the adoption of the Annual Audited Financial Statements for the year ending December 31, 2025.
On the agenda is the consideration and approval of a final cash dividend at the rate of Rs.8 per share (160%), alongside an interim cash dividend of 430% already declared for the year ending December 31, 2025. The Board of Directors has recommended the reappointment of M/s. EY Ford Rhodes, Chartered Accountants, as external auditors for the bank.
Another significant agenda item is the election of eight directors for a term of three years starting March 26, 2026. The retiring directors, including Sir Mohammed Anwar Pervez and Lord Zameer M. Choudrey, are eligible for re-election.
A special business matter will address the revised "Directors Remuneration Policy" for non-executive directors, as recommended by the Board. The shareholders will also be allowed to vote on special business items via electronic voting and postal ballots.
According to information available from the Pakistan Stock Exchange (PSX), UBL's financial performance and governance are critical as the bank aligns with regulatory frameworks. The AGM will also facilitate shareholder participation through an online platform.
The bank has set a deadline for proxy submissions, requiring them 48 hours before the AGM, and has laid out procedures for e-voting and postal ballots. Shareholders are urged to ensure their tax status is up-to-date to benefit from a reduced withholding tax rate on dividends.
UBL will provide an online participation facility through platforms like webinar and Zoom, with registration required at least 24 hours before the AGM. The bank emphasizes the importance of providing valid CNICs, NTN certificates, and bank account details to ensure compliance with regulatory requirements for dividend payments.
The AGM will also address the appointment of a scrutinizer for managing the voting process, ensuring transparency and compliance with postal ballot regulations.