Meezan Bank announces dividend of Rs. 1/share

KARACHI: Meezan Bank Ltd has announced the interim cash dividend of Rs. 1 per share i.e. 10 percent for the half year ended Jun 30, 2011 to shareholders, said the notice issued by the bank to the Karachi Stock Exchange (KSE) on Monday.

The board of directors of the bank called a meeting on Saturday in which bank has announced dividend and also approved the unaudited accounts for the half year ended Jun 30, 2011.

During the period under review, the profit after taxation of bank surged to Rs. 1.38 billion as compared to 718.89 million recorded in corresponding period of the last year. The net spread earned during the half year recorded at Rs. 4.32 billion.

Its earnings per share also increased to Rs. 1.72 per share for half year ended Jun 30 as compared to Rs. 0.9 per share recorded in same period last year.

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