Islamabad: United Bank Limited (UBL) has announced its financial results for the first quarter ending March 31, 2025, following the 255th meeting of its Board of Directors held on April 16, 2025. The board has recommended an interim cash dividend of Rs.11 per share, equivalent to 110%, for the quarter.

The dividend will be distributed to shareholders listed in the Register of Members, complete with their IBAN details, by Tuesday, April 29, 2025. The Share Transfer Books for UBL will be closed from April 30, 2025, to May 2, 2025, to facilitate this process. Transfers received at the office of UBL's Share Registrar, M/s. THK Associates (Pvt.) Limited in Karachi, by the close of business on April 29, 2025, will be eligible for the interim cash dividend.

According to information available from the Pakistan Stock Exchange (PSX), no bonus or right shares have been proposed for this period. Additionally, there are no other entitlements or corporate actions to report.

The board has also proposed a subdivision of UBL shares, reducing the face value from Rs.10 per share to Rs.5 per share, effectively doubling the number of shares for existing shareholders. This proposal follows section 85(1)(c) of the Companies Act, 2017, and includes necessary amendments to the Memorandum and Articles of Association to reflect this change.

An Extraordinary General Meeting (EOGM) is scheduled for May 15, 2025, in Islamabad, where shareholders will vote on the proposed subdivision and amendment recommendations. The Share Transfer Books will be closed from May 8, 2025, to May 15, 2025, for this meeting. Transfers received at the Karachi registrar's office by the close of business on May 7, 2025, will be eligible to attend and vote at the EOGM.

These board decisions are contingent upon obtaining all necessary corporate and regulatory approvals.