KARACHI, Dec 22: The annual general meeting of Hub Power Company (Hubco) has approved the recommendation of 22 per cent final dividend by the board of directors for the year 2000-01.

According to a Hubco announcement here on Saturday, the meeting held in Islamabad was chaired by a member of the board of directors M Nizam Shah.

With the approval of 22 per cent final dividend, the total dividend approved by Hubco has become 39 per cent with the addition of interim dividend of 17 per cent for the year

2000-01.

The meeting also approved the annual accounts of the company and the appointment of M/s Ford, Rhodes, Robson, Marrow Chartered Accountants as Hubco’s auditors.

The shareholders also welcomed the appointment of Vince R Harris as the new chief executive of the company and appreciated the settlement of the tariff dispute with Wapda and the Government of Pakistan.—APP