DYNEA Pakistan Announces Substantial Profits and Dividend for FY 2024

Karachi: DYNEA Pakistan Limited has disclosed its financial results for the fiscal year ended June 30, 2024, revealing significant growth in profits and the declaration of a robust dividend, following the directors’ meeting on September 13, 2024, in Karachi. According to information available from the Pakistan Stock Exchange (PSX), the company achieved a turnover of 12.76 billion Rupees, marking an increase from the previous year’s 11.08 billion Rupees.

The gross profit surged to 2.86 billion Rupees in 2024, up from 1.89 billion Rupees in 2023. The net income for the year stood impressively at 1.19 billion Rupees, compared to 665.16 million Rupees the previous year, showcasing a robust growth trajectory. The operating profit also increased significantly to 2.11 billion Rupees from 1.42 billion Rupees in 2023. However, the company faced higher finance costs, which rose to 169.68 million Rupees, alongside other charges amounting to 203.78 million Rupees.

Reflecting confidence in its financial health, DYNEA Pakistan has declared a final cash dividend of Rs. 10.00 per share, which is 200% of the face value, in addition to an interim dividend of Rs. 7.50 per share paid earlier during the year. The annual general meeting is scheduled for October 24, 2024, at the Auditorium of the Institute of Chartered Accountants of Pakistan in Karachi.

The entitlement to the dividends will be available to shareholders listed in the Register of Members as of October 16, 2024, with the share transfer books remaining closed from October 17 to October 24, 2024. The company’s annual report will be disseminated through PUCARS within the prescribed timeframe.

DYNEA Pakistan’s significant financial performance and shareholder rewards underscore its continued market strength and operational success amidst dynamic economic conditions.

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