Karachi August 11 2022: Engro Polymer and Chemical Limited has announced an interim dividend of PKR 2.5 per share for the period ended June 2022.
This is in an addition to interim cash dividend already paid at PKR 5.00 per share i.e. 50%
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Monday, August 22, 2022.
Company profitability drop by 50 percent to PKR 2,338 million for the quarter ended June 2022 when compared with profitability of PKR 4,720 million for the period ended March 2022. The reason behind lower profitability is lower margins of its core product and payment of super tax.
Engro Polymer and Chemicals Limited was incorporated in Pakistan in 1997 under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017). The Company is a subsidiary of Engro Corporation Limited, which is a subsidiary of Dawood Hercules Corporation Limited. The Company’s principal activity is to manufacture, market and sell Poly Vinyl Chloride (PVC), Vinyl Chloride Monomer (VCM), Caustic soda and other related chemicals. The Company is also engaged in the supply of surplus power generated from its power plants to Engro Fertilizers Limited.