Islamabad February 28 2023: Pakistan Oil Field share price drop 3.5 percent on lower than expected cash payout by the company despite healthy profits, according to company filing to the exchange.
POL announced cash payout of PKR 20 per share for the first half against earning per share of PKR 51.11.
The share price of the company drop PKR 15.38 or 3.48 percent to trade at PKR 426.99 (PST 9:35) after the announcement at Pakistan Stock Exchange.
Pakistan Oilfields Limited is incorporated in Pakistan as a public limited company. The Company is principally engaged in exploration, drilling and production of crude oil and gas in Pakistan. Its activities also include marketing of liquefied petroleum gas under the brand name POLGAS and transmission of petroleum. The Company is a subsidiary of The Attack Oil Company Limited, UK and its ultimate parent is Coral Holding Limited.
