ISLAMABAD: Pakistan Petroleum Limited (PPL) okayed 75 percent cash dividend in its 63rd Annual General Meeting (AGM) held the other day.
The PPL shareholders approved financial statements together with the auditor’s report for the fiscal year ended June 30, 2014. It also approved payment of final cash dividend of 75 percent on ordinary share capital. This approval in addition to an interim cash dividend of 50 percent already paid to shareholders, bringing total distribution for the financial year 2013-14 to 125 percent cash dividend.
Board of Directors Chairman Waqar A Malik lauded the outgoing Board for putting the company on right track and steering the company to greater achievements. Malik stated that its collective experience will drive the corporate agenda with vigor to further enhance shareholder value. PPL MD and CEO Arshad Mirza informed members about the company’s performance and highlighted milestones achieved during the financial year. He mentioned a string of discoveries in company-operated blocks, including gas-condensate from Shahdad X-1 in Gambat South Block and tight gas from Naushahro Firoz X-1 in Naushahro Firoz Block.
