Interloop Limited Recommends Final Cash Dividend of 20% for Fiscal Year 2023

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Karachi, Interloop Limited, in a recent meeting held on September 7, 2023, at Faisalabad, announced several key recommendations for the fiscal year ended June 30, 2023, and shared its financial performance. The following recommendations have been made:

(i) CASH DIVIDEND: The Board of Directors has recommended a Final Cash Dividend of Rs. 2 per share, equivalent to 20% for the fiscal year ending June 30, 2023. This is in addition to the Interim Cash Dividend already paid for the same fiscal year, which amounted to Rs. 3 per share, or 30%.

(ii) BONUS SHARES: The company has not recommended any bonus shares for its shareholders.

(iii) RIGHT SHARES: There will be no issuance of right shares.

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION: The company has not proposed any other entitlement or corporate action.

(v) ANY OTHER PRICE-SENSITIVE INFORMATION: No other price-sensitive information has been disclosed.

Interloop Limited had previously issued and credited Interim Bonus Shares in the proportion of 50 shares for every 100 shares held, which amounted to 50%.

The company’s Annual General Meeting is scheduled to take place on October 13, 2023, in Faisalabad.

These entitlements will be distributed to shareholders whose names appear in the Register of Members by October 5, 2023.

Additionally, the Share Transfer Books of the company will remain closed from October 6, 2023, to October 13, 2023, inclusive.

The Annual Report for the fiscal year ended June 30, 2023, will be transmitted through PUCARS, ensuring that shareholders receive it at least 21 days before the Annual General Meeting.

Furthermore, Interloop Limited reported its financial performance for the year ended June 30, 2023:

Statement of Profit or Loss for the Year Ended June 30, 2023

Distribution Cost: Rs. 3,952,564 (2022: Rs. 3,382,031)

Administrative Expenses: Rs. 6,245,371 (2022: Rs. 4,681,472)

Other Operating Expenses: Rs. 2,721,284 (2022: Rs. 2,143,370)

Profit from Operations: Rs. 27,111,390 (2022: Rs. 15,916,418)

Other Income: Rs. 158,237 (2022: Rs. 57,122)

Finance Cost: Rs. 5,527,536 (2022: Rs. 2,492,950)

Profit Before Taxation: Rs. 21,583,854 (2022: Rs. 13,423,468)

Taxation: Rs. 1,412,009 (2022: Rs. 1,063,972)

Profit for the Year: Rs. 20,171,845 (2022: Rs. 12,359,496)

Restated Earnings per Share (Rupees): 14.39 (2022: 8.82)

The company’s financial results indicate a significant increase in profit from operations compared to the previous fiscal year, demonstrating its continued growth and financial stability.

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