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Karachi, Kot Addu Power Company Limited (KAPCO) has released important recommendations and financial results following the company’s Board of Directors meeting held on September 6, 2023, in Lahore.
Cash Dividend:
The Board has recommended a final Cash Dividend for the year ending June 30, 2023, at the rate of Rs. 5.00 per share, equivalent to 50% of the nominal value of each share. This dividend is in addition to the Interim Dividend(s) already paid at a rate of Rs. 3.50 per share, amounting to 35%.
Bonus Shares:
The Board has proposed issuing Bonus Shares in the proportion of NIL share(s) for every NIL share(s) held, which equates to NIL%. This issuance is supplementary to the Interim Bonus Shares already issued at NIL%.
Right Shares:
KAPCO’s Board has recommended the issuance of NIL% Right Shares at par, at a discount, or at a premium of Rs. NIL per share in the proportion of NIL share(s) for every NIL share(s). The entitlement of these right shares will or will not be applicable on Bonus Shares as declared above.
Regarding other entitlements or corporate actions, there were no specific recommendations or price-sensitive information provided.
Financial Results:
KAPCO also released its Statement of Profit or Loss for the year ended June 30, 2023, comparing it to the previous year:
Sales for 2023 amounted to Rs. 25,435,312 thousand compared to Rs. 136,599,624 thousand in 2022.
The cost of sales for 2023 was Rs. 26,004,159 thousand, compared to Rs. 128,067,519 thousand in 2022.
This resulted in a gross loss of Rs. 568,847 thousand in 2023, compared to a gross profit of Rs. 8,532,105 thousand in 2022.
KAPCO reported operating profit of Rs. 13,072,206 thousand for 2023, down from Rs. 19,896,721 thousand in 2022.
After accounting for finance costs and taxation, the profit for the year ended June 30, 2023, was Rs. 3,958,757 thousand, with earnings per share of Rs. 4.50, as compared to Rs. 9,893,620 thousand and earnings per share of Rs. 11.24 in the previous year.
Shareholders are encouraged to take note of these recommendations and financial results, and the Share Transfer Books of the Company will be closed from October 18, 2023, to October 24, 2023, inclusive.
The post Kot Addu Power Company Limited Recommends Rs. 5.00 per Share Final Cash Dividend and Provides Financial Results for Year Ended June 30, 2023 appeared first on Pakistan Company News.