Pakistan's Arif Habib Ltd. lowered its dividend year over year for the annual period ended June 30.
It recommended a cash dividend of 3 rupees per share, down from 10 rupees in the prior fiscal year, according to a recently-obtained report.
The payout is subject to shareholder approval at an annual general meeting to be held Sept. 15. It will be available to shareholders on record as of Sept. 7.
As of Aug. 16, US$1 was equivalent to 123.12 Pakistani rupees.