Altern Energy Ltd. Announces Reduced Dividend Amidst Negative EPS

Karachi, Altern Energy Ltd. (ALTN), a notable company in the power generation and distribution sector, declared a 47% dividend for 2024, down from 185% the previous year, alongside a 62.5% interim dividend. Trading activity on the Pakistan Stock Exchange showed a high of Rs. 23 and a low of Rs. 19.7, with a total of 3,854,000 shares traded. The daily weighted average rate was Rs. 21.65, slightly below the day’s rate of Rs. 21.81. Despite the reduced dividend, the company reported a negative earnings per share (EPS) of Rs. (0.20) for the period JanFeb 2024, reflecting challenges in the financial landscape. With a paidup capital of Rs. 3,633.80 million, Altern Energy Ltd. remains a significant player in its sector, navigating through fluctuating market conditions.