Oil and Gas Development Co. Ltd. Maintains Strong Dividend Amid Solid Earnings

Karachi, Oil and Gas Development Co. Ltd. (OGDC), a cornerstone of the oil and gas exploration sector, reported solid earnings with an EPS of Rs. 52.23 for the year ending June 2023. The company announced an 85.50% dividend for 2023, up from 72.5% in 2022, along with a 41% interim dividend, indicating robust financial performance and commitment to rewarding its shareholders. OGDC’s shares traded at Rs. 122.81, closely mirroring its daily weighted average of Rs. 122.89. With a significant trading volume of 670,299,946 shares, the stock reached a high of Rs. 158.59 and a low of Rs. 104.5. Since its 2004 listing, OGDC has been a pivotal player in the market, supported by a substantial paidup capital of Rs. 43,009.28 million.