Islamabad: United Bank Limited (UBL) declared a significant interim dividend during its 251st board meeting held on October 23, 2024. The meeting, which took place in Islamabad, resolved to issue an interim cash dividend for the third quarter ended September 30, 2024, at Rs. 11 per share, which amounts to 110% of the share value. This follows an earlier dividend payment of Rs. 22 per share, or 220%, marking a substantial return to shareholders over the fiscal year.

The board also discussed other potential corporate actions but decided against issuing bonus shares, rights shares, or any other entitlements or corporate actions for the period. According to information available from the Pakistan Stock Exchange (PSX), this decision aligns with UBL's current financial strategies and shareholder engagement plans.

No additional price-sensitive information was disclosed during the meeting. The financial outcomes, encapsulated in the un-consolidated and consolidated accounts for the quarter, were attached as Annexure "A" and "B" respectively, and will be detailed in the forthcoming Public Unlisted Companies Audit and Reporting System (PUCARS) transmission.

Furthermore, UBL announced that its Share Transfer Books will be closed from November 5, 2024, to November 7, 2024, inclusive. Transfers received by the close of business on November 4 will be eligible for the declared entitlements, a procedure overseen by THK Associates (Pvt.) Limited, UBL's share registrar.

This announcement is anticipated to have a positive impact on UBL's market standing and shareholder satisfaction, reflecting a stable financial footing as the bank progresses into the final quarter of 2024.