KARACHI, June 29: Arif Habib Securities Limited announced an aggregate pay out at 300 per cent for the year to end June 30, 2004.
The Board of Directors of the company declared interim cash dividend at Rs15 per share (150 per cent), tied to an interim stock bonus at 150 per cent.
Last year, the company had paid cash at 100 per cent along with bonus shares at 33.33 per cent. The company in a statement released on Tuesday said: "The board decided to take a lead and made the announcement for its shareholders prior to the close of the current financial year."
It explained that the objective was to quash investors' suspense on the likely payout by the company. The company statement stated that Arif Habib Securities was the flagship company of the Arif Habib Financial Services Group.
The company ranked 6th and 8th, amongst the 'Top 25 Companies' of the Karachi Stock Exchange and received those awards in the first two years of its listing in 2001. The company also noted that Arif Habib Securities was the main sponsor of Arif Habib Investments, one of the leading fund management companies of the country, with Rs7.5 billion under its management.
In a notice at the stock exchange the company stated that shareholders whose names would appear in the Register of Members on September 20 would be entitled for the above interim cash dividend and bonus issue. The share transfer books of the company will remain closed from September 20 to September 25, 2004 (both days inclusive).
