The Securities and Exchange Commission of Pakistan (SECP) has amended
procedure for listed companies regarding issuance of dividends to the
shareholders. In this regard, the SECP has issued an SRO.19 (I)/2014
here on Thursday. The SECP has issued SRO.19 (I)/2014 in continuation
to the earlier issued SRO.831 (1)/2012 regarding payment of dividends
to the shareholders by the listed companies.
According to the notification, the SECP in continuation to
SRO.831(1)/2012, dated July 5, 2012, has extended the deadline for
seeking Commission's approval for dividends announced up to December
31, 2014, Provided that a company in addition to the requirements of
SRO.831(1)/2012, shall also produce evidence for publication of the
requirement of CNIC from the shareholders in at least one issue each
of a daily newspaper in English language and a daily newspaper in Urdu
language having circulation in the province in which the stock
exchange on which the company is listed is situated, along with the
evidence of sending notices through registered post to all the
shareholders who have not provided copy of their CNIC to company.
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