The 14th Annual General Meeting (AGM) of the shareholders of Union Bank Limited approved a cash dividend at a rate of Rs two per share and issue of bonus shares at a rate of 20 shares for every 100 shares held, which is in addition to the 15 per cent bonus shares offered in the last AGM, held in October 2005.
According to Bank sources here on Wednesday, the AGM was held here recently to approve annual accounts, appointment of new auditors and to grant approval to the remuneration paid to the directors.
It was attended by the directors Zaheer Sajjad, Asif Sana and chaired by Union Bank President and CEO Shaukat Tarin. The meeting was well attended by a cross section of institutional and private shareholders. It also considered and adopted the Annual Audited Accounts for the year ended 31st December 2005 along with Directors' and Auditors' Reports.
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