Parkin Company Announces AGM and Dividend Plans
Parkin Company invites shareholders to its AGM to discuss key financial matters and dividend distribution.
Summary
Parkin Company calls for its Annual General Assembly Meeting to discuss financial performance, dividends, and future strategies.
In a significant move, Parkin Company (PJSC) has announced its Annual General Assembly Meeting (AGM), scheduled to be held both virtually and physically at the Holiday Inn, Festival City, Dubai, on March 27, 2025. This meeting is a pivotal event for shareholders and stakeholders alike, where the Board of Directors will present and discuss the company's performance, financial statements, and future strategies.
The AGM's agenda is comprehensive, starting with an overview of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2024. This is followed by the auditor's report, which will be crucial in understanding the financial integrity and health of the company.
One of the most anticipated discussions will revolve around the company's balance sheet and profit and loss account for the fiscal year 2024. Shareholders will be keenly interested in these figures, as they directly impact the company's valuation and future prospects.
Furthermore, the Board has proposed a cash dividend distribution of AED 280,866,905 for the second half of the fiscal year 2024, equating to 9.36 fils per share. This proposal, if approved, will see dividends distributed to eligible shareholders in April 2025. The interim cash dividends of AED 198,773,218 for the first half of 2024, amounting to 6.63 fils per share, have already received approval.
In addition to financial matters, the AGM will address the remuneration of the Board of Directors for the fiscal year 2024, and the discharge of both the Board and external auditors from liabilities for the same period. The appointment of external auditors for the fiscal year 2025 and the determination of their fees will also be on the agenda.
A special resolution will seek approval for related party transactions conducted during 2024, as reflected in the company's balance sheet. This is critical for transparency and maintaining shareholder trust.
Given the robust dividend policy and the company's strategic direction, investors may find Parkin Company an attractive investment opportunity. The consistent dividend payouts reflect a stable financial position and a commitment to returning value to shareholders. Therefore, considering the company's performance and future outlook, it could be strategic to hold onto Parkin's shares, especially for investors seeking steady income through dividends.
Source
Summary
The Board of Directors of Parkin Company (PJSC) invites shareholders to attend the Annual General Assembly Meeting (AGM) on Thursday, March 27, 2025, at 2:00 pm, held both virtually and physically at Holiday Inn, Festival City, Dubai, UAE. The agenda includes: reviewing and approving the Board of Director’s Report and Auditor’s Report for the fiscal year ending December 31, 2024; discussing and approving the Company’s Balance Sheet and Profit and Loss Account for the same period; considering the distribution of cash dividends of AED 280,866,905 for the second half of 2024 and approving the dividend distribution policy; approving interim cash dividends of AED 198,773,218 for the first half of 2024; approving the Board of Directors’ remunerations; discharging the Board of Directors and external auditors from liabilities for 2024; appointing external auditors for 2025 and determining their fees; and approving related parties’ transactions during 2024 as per the Company’s Balance Sheet.
