The Board of Directors of Oil & Gas Development Company Limited (OGDCL) has announced the financial results for the year that ended on June, 30, 2022.

The OGDCL’s net sales revenue during this period stood at Rs 335.463 billion, translating to a profit-after-tax of Rs 133.783 billion. The company registered an increase of 56 percent in profit, compared to a profit of Rs 91.534 billion in the same period of the last year. The earnings per share of the company reached Rs 31.11.

The Board announced final cash dividend for the year 2021-2022 on the basis of accounts at the rate of Rs 2.50 per share, i.e. 25 percent. This is an addition to interim dividends already paid at the rate of Rs.4.75 per share, i.e. 47.50 percent. The dividend will be paid to the shareholders whose names will appear in the Register of Members on October 17, 2022. The share transfer books of the company will be closed from October 18, 2022.

During the period under review, the OGDCL paid Rs 98.737 billion on account of taxes. On the exploration and development front, the company recorded significant enhancement in seismic efforts and drilling activities.

The Board of Directors appreciated the efforts of the management for taking effective steps for the implementation of company’s aggressive exploration program.

Credit: Independent News Pakistan-WealthPk