Karachi: United Bank Limited (UBL) has successfully credited the second interim cash dividend for 2024, declared at Rs.11 per share, which amounts to a 110% payout, directly into the bank accounts of shareholders who provided all necessary documentation.

According to information available from the Pakistan Stock Exchange (PSX), the disbursement was announced following a board meeting on July 31, 2024. However, the dividend payments have been withheld for those shareholders who failed to submit valid copies of their Computerized National Identity Cards (CNIC) or passport numbers, along with complete details of their designated bank accounts (IBAN).

The Bank has urged shareholders to comply with Regulation No.06 of the Companies (Distribution of Dividends) Regulations, 2017, read with Section 242(3) of the Companies Act, 2017, to facilitate direct credit of dividends. In response to these requirements, the Central Depository Company of Pakistan Ltd (CDC) has developed the eService web portal, which provides detailed records of paid, deducted, and withheld dividends by listed companies. This portal also maintains a historical record of dividends paid to shareholders.

Shareholders are encouraged to register on the eService portal via https://csp.cdcaccess.com.pk to access the Centralized Cash Dividend Register (CCDR) for their records and ensure compliance to receive all future dividends.

UBL reiterates the importance of shareholders updating their records with valid CNICs and IBAN details, either through their CDS Participations for book-entry securities or through the Share Registrar and Transfer Agent for physical securities.