ALAbbas Sugar Mills Ltd Announces Significant Dividend Increase After Stellar Earnings

Karachi, ALAbbas Sugar Mills Ltd (AABS), a prominent name in the sugar and allied industries sector of the Pakistan Stock Exchange, reported an exceptional earnings per share (EPS) of Rs. 212.22 for the year ending September 2023. The company announced a substantial increase in its dividend payout to 560% for 2023, up from 550% in 2022, showcasing its remarkable financial performance. AABS’s stock traded at Rs. 549.67, closely reflecting its daily weighted average of Rs. 549.94. With a trading volume of 21,000 shares, the company saw its share price fluctuate between Rs. 520 and Rs. 470.01. Since its 1992 listing, ALAbbas Sugar Mills has demonstrated sustained growth and profitability, underpinned by a paidup capital of Rs. 173.62 million.