Cash dividend under process for federal government's approval: NBP
MG News | March 30, 2022 at 03:45 PM GMT+05:00
March 30, 2022 (MLN): The cash dividend of Re1 per share i.e, 10% recommended by the National Bank of Pakistan on March 8, 2022, could not be declared in today’s Annual General Meeting (AGM) as it is still under the process of approval by the federal government, the bank’s filing on PSX showed today.
For the unversed, the dividend by NBP is subject to the approvals of the federal government under section 17 of the Banks (Nationalization) Act, 1974 and the State Bank of Pakistan.
NBP has applied for the requisite approvals that are under. The matter will be placed before the shareholders in General Meeting once the said approvals are received.
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