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ISLAMABAD: The Board of Directors (BoDs) of Oil and Gas Development Company Limited (OGDCL) announced the financial results for the period ended on March 31, 2024, of the fiscal year 2023-24.

Net sales revenue clocked at Rs348.164 billion translating to Profit After Tax of Rs171.104 billion and earnings per share of Rs39.78.

The BoDs announced an interim cash dividend for the quarter ended March 31, 2024, at the rate of Rs2.00 per share i.e. 20 per cent. This is in addition to the interim dividend already paid at the rate of Rs4.1 per share i.e. 41 per cent to its shareholders. The dividend will be paid to the shareholders whose names will appear in the Register of Members on May 09, 2024.

During the period under review, the company paid Rs68.497 billion on account of taxation. On the exploration and development side, the company recorded significant enhancement in seismic efforts and drilling activities.

The share transfer books of the company will be closed from May 10, 2024, to May 13, 2024 (both days inclusive). Transfers received at the CDC Share Registrar Services Limited, CDC House, 99-B, Block “B”, SMCHS, Main Shahrah-e-Faisal, Karachi 74400 at the close of business on May 09, 2024, will be treated in time for the purpose of above entitlement to the transferees.

The BoDs appreciated the efforts of the management for taking effective steps for the implementation of the company’s aggressive exploration programme.

Copyright Business Recorder, 2024

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