Hoechst Pakistan Announces Interim Dividend Amid Financial Results for First Half of 2024

Karachi: Hoechst Pakistan Limited, previously known as Sanofi-Aventis Pakistan Limited, convened a Board of Directors meeting on August 22, 2024, via video link and at the company’s head office, where they approved the condensed interim financial statements for the first half of the year.

According to the released financial statements, Hoechst Pakistan has declared an interim cash dividend of Rs. 25.00 per share, translating to a 250% dividend, for the period ending June 30, 2024. The record for the dividend will be determined by the shareholder registry as of September 4, 2024. No issuance of bonus shares, rights shares, or any other corporate actions were announced.

The financial results reveal a challenging half year for the company. According to information available from the Pakistan Stock Exchange (PSX), Hoechst Pakistan reported a gross profit of Rs. 2,546.347 million from a revenue of Rs. 10,047.849 million for the half-year period. Despite substantial revenue, the net profit stood at a loss of Rs. 522.330 million, primarily impacted by significant distribution, marketing, administrative, and other expenses totaling Rs. 2,716.658 million.

The Share Transfer Books of the company will be closed from September 5, 2024, to September 6, 2024, to finalize the entitlements. Transfers completed by the end of business on September 4, 2024, or updated in the Central Depository System as per CDC regulations, will be considered for dividend disbursement.

Furthermore, the company’s Half Yearly Report will be transmitted through PUCARS within the specified timeline and will also be available on Hoechst’s official website.

The post Hoechst Pakistan Announces Interim Dividend Amid Financial Results for First Half of 2024 appeared first on .