Karachi: United Bank Limited (UBL) has announced the disbursement of its final cash dividend at a rate of Rs.11 per share, equating to 110% for the fiscal year 2024. This decision, ratified by the company’s Board of Directors on February 19, 2025, and subsequently approved by the shareholders during the 66th Annual General Meeting on March 19, 2025, has resulted in the dividend being directly credited into the designated bank accounts of qualifying shareholders.
However, the bank has withheld the dividend from shareholders who have not yet submitted valid Computerized National Identity Cards (CNIC) or passport numbers, along with complete and valid designated bank account details, in accordance with Regulation No.06 of the Companies (Distribution of Dividends) Regulations, 2017, and Section 242 (3) of the Companies Act, 2017. These requirements are integral to ensuring compliance with regulatory standards and facilitating the direct credit of cash dividends.
The Central Depository Company of Pakistan Ltd (CDC) has introduced an eService web portal, offering shareholders access to pertinent information regarding cash dividends paid, Zakat or tax deductions, and dividends that remain unpaid or withheld. The Centralized Cash Dividend Register (CCDR) aids in maintaining a comprehensive record of dividends disbursed by listed companies. Shareholders are encouraged to register on this portal via https://csp.cdcaccess.com.pk to benefit from the consolidated dividend information available.
According to information available from the Pakistan Stock Exchange (PSX), shareholders who have not yet furnished the necessary documentation, such as valid CNICs and International Bank Account Numbers (IBAN), are advised to provide such information promptly. For securities held in the Central Depository System (CDS), updates should be made through CDS Participants. Meanwhile, holders of physical securities should contact the Share Registrar and Transfer Agent of the Bank, M/s. THK Associates (Pvt.) Limited, located at 32-C Jami Commercial Street – 2, D.H.A. Phase – VII, Karachi.
Shareholders experiencing issues with the receipt of their dividend may submit a written request, including their Folio or CDC Account Number, to the Share Registrar at the provided address. This initiative reflects UBL’s commitment to regulatory adherence and its ongoing efforts to ensure a seamless dividend disbursement process for its valued shareholders.