Towellers Limited Announces Significant Dividend Increase in 2023

Karachi, Towellers Limited, operating under the symbol TOWL, announced a significant increase in its dividends for the year 2023. The company’s rate stood at Rs. 208.42, with a daily weighted average rate of Rs. 207.12, and a paid-up capital of Rs. 170.00 million. Towellers Limited, which did not distribute dividends in 2021, declared a 120% dividend in 2022 and further increased it to 130% in 2023. Since its listing in 1995, the stock reached a high of Rs. 338.36 and a low of Rs. 95, with a remarkable turnover of 10970800. The EPS from January to November 2023 was recorded at Rs. 32.73, showcasing a strong upward trend in the company’s financial performance.