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Lahore, Allied Bank Limited (ABL) reported a substantial interim cash dividend of Rs. 4.00 per share, equating to 40%, following their latest board meeting in Lahore on April 24, 2024. This decision comes after evaluating the financial performance for the quarter ending March 31, 2024. Shareholders listed as of May 6 will be eligible for the dividend, with the bank’s share transfer books remaining closed from May 7 through May 9.
In terms of financial performance, the bank’s unconsolidated profit after taxation rose to Rs. 11,363,568,000 from Rs. 7,588,817,000 in the corresponding quarter last year. A notable increase was also observed in net mark-up/interest income, which climbed from Rs. 20,513,051,000 to Rs. 29,146,626,000. The earnings per share (EPS) increased from Rs. 6.63 to Rs. 9.92.
On the consolidated level, Allied Bank’s after-tax profits were reported at Rs. 11,606,928,000 for the quarter, up from last year’s Rs. 7,684,227,000. The consolidated EPS similarly improved from Rs. 6.71 to Rs. 10.14. The overall revenue saw a rise, with total income reaching Rs. 35,918,528,000 compared to Rs. 27,510,624,000 in the previous year.
The detailed quarterly report will be subsequently released through PUCARS, adhering to the schedule set forth by regulatory requirements.