Attock Refinery Announces Strong Financial Results and 150% Dividend for 2024

Rawalpindi: Attock Refinery Limited (ARL) has reported a robust financial performance for the fiscal year ended June 30, 2024. The company declared a total dividend of Rs. 15.00 per share, marking a 150% payout, including an interim dividend of Rs. 2.50 per share.

The results reflect a stable profit with a gross sales total of Rs. 505.29 billion for 2024, up from Rs. 461.13 billion the previous year. Net sales increased slightly to Rs. 382.92 billion, compared to Rs. 369.22 billion in 2023. However, the refinery operations netted a profit after taxation of Rs. 24.36 billion, slightly down from Rs. 28.01 billion in the preceding year.

According to information available from the Pakistan Stock Exchange (PSX), the company’s earnings per share from refinery operations stood at Rs. 228.44, a decline from Rs. 262.72 in 2023. Non-refinery operations contributed an additional Rs. 8.32 per share, down from Rs. 11.40 per share the previous year.

The Board of Directors of Attock Refinery met on September 02, 2024, in Rawalpindi, where they also announced that there will be no issuance of bonus or right shares this year. The Annual General Meeting is scheduled for October 14, 2024, and will be accessible via video link. The company’s share transfer books will be closed from October 08, 2024, to October 14, 2024, to finalize the shareholder entitlements.

The Annual Report will be made available through PUCARS 21 days prior to the AGM. Shareholders on the Register of Members by October 07, 2024, will be eligible for the dividend.

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