Otsuka Pakistan Announces Final Dividend of Rs. 1.50 per Share for Fiscal Year 2022-23

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Karachi, Otsuka Pakistan Limited, a leading pharmaceutical and healthcare company, has shared its financial performance for the fiscal year ended June 30, 2023, and unveiled key recommendations made during its recent Board of Directors meeting held on August 24, 2023.

The Board of Directors has proposed a Final Cash Dividend of Rs. 1.50 per share, reflecting a 15% payout for the fiscal year 2022-23. This decision underscores Otsuka Pakistan’s commitment to delivering value to its shareholders amid a challenging economic environment.

The company’s financial results for the year ended June 30, 2023, indicate that the net sales rose to Rs. 3,035,085,000 from Rs. 2,851,733,000 in the previous year. Despite an increase in sales, Otsuka Pakistan experienced a (Loss) I profit for the year, with a (Loss) I earnings per share of Rs. (0.60), compared to the previous year’s earnings per share of Rs. 19.16.

Otsuka Pakistan’s Thirty-fifth Annual General Meeting is scheduled to take place on October 2, 2023, in Karachi. The entitlements, including the Final Cash Dividend of Rs. 1.50 per share, will be extended to shareholders whose names appear in the Register of Members on September 25, 2023.

In light of the upcoming Annual General Meeting and dividend disbursement, the Share Transfer Books of the company will remain closed from September 26, 2023, to October 2, 2023, both days inclusive. This temporary closure will facilitate a streamlined process for dividend distribution and other related administrative matters.

Otsuka Pakistan Limited’s proactive approach in delivering financial information and its commitment to rewarding shareholders are evident in these recent announcements. Despite the challenges faced, the company’s emphasis on transparency, effective governance, and stakeholder engagement remains steadfast as it navigates the evolving market landscape.

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