Karachi September 20 2022: Pakistan Petroleum Limited (PPL) share price drop 5.2 percent or PKR 3.35 after the announcement of result as company declared 50 paisa dividend for its ordinary shareholders.
The Board of Directors has recommended a cash dividend of Rs. 0.50 per share (5%) on Ordinary Shares and Rs. 0.50 per share (5%) on Convertible Preference Shares. Subject to approval by the members at the forthcoming Annual General Meeting of the Company, dividend will be paid to those members whose names appear in the Register of Members as at the close of business on 18 th October 2022.
Company earned profit of PKR 53,546 million during the fiscal year 2022, which runs from July to June, compared with profitability of PKR 52,431 million in the previous fiscal year. Company paid PKR 75,084 to government of Pakistan in taxation and royalties.
Exploration expense increased to PKR 23,734 million when compared with PKR 10,227 million last year.
Pakistan Petroleum Limited was incorporated in Pakistan in 1950 with the main objectives of conducting exploration, prospecting, development and production of oil and natural gas resources.