NBP shareholders endorse 80% cash dividend

March 26, 2025 (MLN): The shareholders of the National Bank of Pakistan (NBP) endorsed a cash dividend of Rs8 per share (80%) for those listed in the Shareholders’ Register as of March 17, 2025 (close of business), as recommended by the Board of Directors for the financial year ended December 31, 2024.

However, this authorization remains subject to clearance from the Government of Pakistan under Section-17 of The Banks’ Nationalization Act, 1974.

The approval was granted during NBP’s 76th Annual General Meeting (AGM), held on March 25, 2025, at the bank’s head office in Karachi and through electronic means.

The meeting also confirmed the minutes of the Extraordinary General Meetings (EOGMs) held on November 22, 2024, and January 6, 2025, which were conducted both in-person and electronically, the notification issued to the local bourse.

Additionally, the AGM reviewed and adopted the annual audited unconsolidated and consolidated financial statements for 2024, along with the Directors’ Report, Auditors’ Report, and Chairman’s Review Report.

The shareholders also endorsed the reappointment of Messrs. PwC A.F. Ferguson & Co., Chartered Accountants, at a fee of Rs45.856 million (including some statutory certification) and Messrs. BDO Ebrahim & Co., Chartered Accountants, at a fee of Rs38.962m (including some statutory certification) as the statutory auditors for the financial year ending December 31, 2025.

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