The board of directors of Pakistan Petroleum Limited (PPL), in its meeting held here on Wednesday approved and recommended the payment of a final cash dividend for the year ended June 30, 2016 of Rs 3.50 per share, ie 35 percent on ordinary shares and Rs 0.75 per share, ie 7.5 percent on convertible preference shares.
The board also approved the unconsolidated and consolidated financial results for the year ended June 30, 2016 for laying before the members at the Annual General Meeting scheduled on February 28, 2017.
According to the financial results, profit after tax of the company stood at Rs 17.242 billion in the year ended June 30, 2016 as compared to Rs 38.398 billion earned in the year ended June 30, 2015. The earning per share of the company stood at Rs 8.74 against Rs 19.47.
The company's net sales declined to Rs 80.151 billion against Rs 104.837 billion. Field Expenditure increased to Rs 44.952 billion against Rs 42.289 billion while royalties stood at Rs 9.218 billion against Rs 12.226 billion. The company's profit before taxation decreased to Rs 26.706 billion in FY16 against Rs 53.315 billion in FY15.