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Pakistan's Allied Bank lowers FY'17 dividend

Pakistan's Allied Bank Ltd. lowered its dividend for the year ended Dec. 31, 2017.

The lender's board declared a final dividend of 1.75 rupees per share, according to a Feb. 21 release. This is the same as the final dividend for the prior year.

Along with an interim dividend of 5.25 rupees per share, the bank's total dividend came to 7 rupees per share, down from 7.25 rupees per share in 2016.

As of Feb. 21, US$1 was equivalent to 110.59 Pakistani rupees.