The board of directors of Pakistan Petroleum Limited (PPL) has announced a final cash dividend for the year ended June 30, 2010 at Rs 5.00 per share ie 50 percent on ordinary shares. This is in addition to interim dividend at Rs 4.00 per share ie 40 percent on ordinary shares and Rs 3.00 per share ie 30 percent in convertible preference shares already paid to the shareholders.
The PPL board of directors in its meeting held here on Friday also recommended bonus shares in proportion of two ordinary shares for every 10 ordinary shares held ie 20 percent. The board also recommended that out of the profit for the year ended June 30, 2010, an appropriation of Rs 5.5 billion (Rs 5.5 billion in 2008-09) and Rs 5.0 billion (Rs 5.0 billion in 2008-09) have been made towards 'Insurance Reserve' and 'Assets Acquisition Reserves' respectively.
According to the financial results sent to Karachi Stock Exchange (KSE), the PPL's profit after tax stood at Rs 23.320 billion in FY10 against Rs 27.702 billion recorded in FY09. The company's earning per share was recorded at Rs 23.42 in this period against Rs 27.82 in the same period a year back.
The company's net sales declined to Rs 59.961 billion in FY10 against Rs 61.580 billion in FY09. The company's field expenditures increased to Rs 18.273 billion against Rs 13.161 billion while the company paid Rs 7.076 billion as royalties in FY10 against Rs 7.463 billion paid in the same account in FY09. The company's other operating expenses declined to Rs 2.567 billion against Rs 3.103 billion. The company's profit before taxation stood at Rs 34.528 billion in FY10 against Rs 41.908 billion in FY09.
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