Karachi August 9 2023: Power Generation and Distribution Sector shares advance on Pakistan Stock Exchange as Lalpir Power announced extraordinary dividend of PKR 15 per share.
PKGP, LPL, NCPL and NPL gain nearly 7 percent at Pakistan Stock Exchange after the result announcement of Lalpir Power. Hub Power Limited advance more than 5 percent on the bourse.
Lalpir Power Limited announced interim dividend of PKR 15 per share for the half year ended June 30 2023, according to company filing to the exchange. The share price gain PKR 1.94 per share or 7.5 percent to hit upper cap of PKR 27.82 after the announcement at Pakistan Stock Exchange. The company received an amount of PKR 2 billion from government of Pakistan on June 27 2023 under clearence of PKR 141.9 billion in circular debt.
Nishat Chunian Power Limited (NCPL) received an amount of PKR 1.6 billion and Nisthat Power Limited (NPL) received an amount of PKR 2.0 billion from Central Power Purchasing Authority (CPPA). Whereas, Pakgen Power limited (PKGP) received an amount of PKR 2.5 billion from the authority.
