The SECP has approved issuance of a circular directing all listed companies to give their shareholders the option of getting their cash dividend credited directly into their bank accounts. According to Security and Exchange Commission of Pakistan (SECP) here Monday, this decision has been taken by exercise of powers conferred under Section 506B of the Companies Ordinance, 1984. In exercise of powers conferred under section 505 of the Companies Ordinance, 1984, read with clause (c) of section 43 of the Securities and Exchange Commission of Pakistan Act, 1997, the SECP has also approved amendments to paragraph 9 of Table A of the First Schedule to the Companies Ordinance, 1984.
