Bullish indicating open at $55-$60, IPO prices at $37
ISLAMABAD - United Bank Limited (UBL) has declared an interim cash dividend at the rate of Rs.11 per share, which is 110% of the share’s face value, following a Board of Directors meeting held on Wednesday. This dividend applies to shareholders listed in the Register of Members by April 29, 2025. The bank’s share transfer books will be closed from April 30 to May 2, 2025, for the processing of this dividend.
Additionally, UBL’s Board has proposed a subdivision of the bank’s shares, cutting the face value from Rs.10 to Rs.5 per share. This move will double the number of shares each shareholder owns, issuing two shares for every one share currently held. The bank will also amend its Memorandum and Articles of Association to reflect this change.
An Extraordinary General Meeting (EOGM) is scheduled for May 15, 2025, in Islamabad, to seek shareholder approval for the share subdivision and the related amendments to the company’s charter documents. The share transfer books will again be closed from May 8 to May 15, 2025, in anticipation of the EOGM.
These decisions by UBL’s Board are pending requisite corporate and regulatory approvals. The bank is expected to release its quarterly financial statements through the Pakistan Unified Corporate Reporting System (PUCARS) within the stipulated timeframe.
This announcement was made in compliance with the Securities Act of 2015 and the Pakistan Stock Exchange (PSX) Regulations, as per a statement issued by Aqeel Ahmed Nasir, Company Secretary and Chief Legal Counsel of UBL. The information is based on a press release statement and is intended for regulatory disclosure and shareholder information.
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