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Karachi, Pak Datacom Limited, a leading telecommunications company, announced its financial results and dividend recommendations following the Board of Directors’ meeting held on September 20, 2023.
In a significant development, the Board of Directors recommended a final cash dividend of Rs. 9.00 per share, equivalent to 90% for the financial year ending on June 30, 2023. It’s noteworthy that no interim dividend had been paid earlier during the 2022-23 financial year. This generous cash dividend, if approved by shareholders, will mark a considerable return to the company’s investors.
Furthermore, the company reported its financial results for the year ending June 30, 2023, with total revenue reaching Rs. 1,362,843,918 and gross profit at Rs. 288,854,289. Operating profit stood at Rs. 242,394,823, and the company reported a profit before taxation of Rs. 284,006,291. After accounting for taxation, the profit for the period was Rs. 179,709,201. Earnings per share for the year were reported at Rs. 24.44 on a basic and diluted basis.
Regarding bonus and right shares, the Board of Directors decided not to issue any bonus or right shares.
In terms of appropriations, the Board approved the transfer of Rs. 49.5 million from unappropriated profit to general reserves. Additionally, the final cash dividend of Rs. 9.00 per share, amounting to Rs. 106.733 million, was also approved. This reflects the company’s commitment to rewarding its shareholders while maintaining financial stability.
The Annual General Meeting (AGM) of Pak Datacom Limited is scheduled to be held on October 26, 2023, in Islamabad. Shareholders are encouraged to participate in the AGM to discuss the company’s performance, dividend recommendations, and future plans.
Shareholders are reminded that for eligibility to receive the final dividend, their names must appear in the register of members on October 18, 2023. The share transfer books of the company will be closed from October 19, 2023, to October 26, 2023, inclusive.
Pak Datacom Limited’s dividend recommendation and strong financial results demonstrate its commitment to providing value to its shareholders while maintaining financial stability and transparency. Shareholders eagerly await the upcoming AGM for further discussions and decisions regarding the company’s future.
The post Pak Datacom Limited Recommends Rs. 9.00 per Share Cash Dividend for FY 2023; Announces Annual General Meeting appeared first on Pakistan Company News.