SECP urged to take up issue with SBP regarding banking sector ‘Dividend’
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KARACHI: Pakistan Stockbrokers Association (PSA) has urged the government and Securities and Exchange Commission of Pakistan (SECP) to take up the matter with State Bank of Pakistan to immediately withdraw the notification regarding bank’s dividend.
In a letter sent to the Chairman SECP Aamir Khan on Thursday, the PSA said that investors are entitled to receive dividends as return on their investment made in a company and taking the risk of putting their money in its shares.
This is an important source of income for the small investors who invest their money to get the profits. In its letter, PSA said the majority of small and middle-class investors rely upon this only source of income which helps them to run and to meet their day to day home expenses.
The power to declare dividends rest with the company, therefore, the decision issuance and / or suspension of dividends may be left to the discretion of respective banks/companies in order to facilities the investors in their hard times.
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