Karachi March 30 2022: National Bank of Pakistan (NBP) has failed to approve announced dividend for the financial year 2021 in its recently held Annual General Meeting, as per company filling to the exchange.
The bank recommended dividend of PKR 1 per share i.e, 10 percent was subject to the approvals of Federal Government under section 17 of the Banks (Nationalization) Act, 1974 and State Bank of Pakistan.
NBP has applied for the requisite approvals that are under process hence the dividend could not be declared in this AGM held on March 30, 2022. The matter will be placed before the shareholders in General Meeting once the said approvals are received.
National Bank of Pakistan was incorporated in Pakistan under the National Bank of Pakistan Ordinance, 1949. The Bank is engaged in providing commercial banking and related services in Pakistan and Overseas. The Bank also handles treasury transactions for the Government of Pakistan (GoP) as an agent to the State Bank of Pakistan.
