SECP to revisit proposal for cut in dividend payment time.

LAHORE -- The Securities and Exchange Commission of Pakistan (SECP) on Wednesday agreed to review the proposed amendment to the Companies (Distribution of Dividends) Regulations 2017, which requires cash dividend payment in three working days from the date of its approval by the general meeting of the company's shareholders in case of final dividend and its board in case of interim dividend.

The assurance was given by SECP chairman Aamir Khan during a virtual meeting with foreign investors operating in the country and represented by the Overseas Investors Chamber of Commerce and Industry (OICCI). The SECP agreed to scale down the period for dividend payment (to the investors and shareholders) from 15 working days to three working days over the next two years. The OICCI members had explained to the SECP chief the difficulties like...