International Industries Ltd. Announces Increased Dividends Following Strong Quarterly Performance

Karachi, International Industries Ltd. (INIL), recorded a significant rise in its quarterly earnings, posting an EPS of Rs 121.51 for the first quarter of 2024. The company, which had its shares traded at Rs 160.00 today and a daily weighted average rate of Rs 162.38, announced an 80% dividend for the year 2023, up from 75% in 2022. Additionally, a 20% interim dividend has been declared for 2024. International Industries has a robust paid-up capital of Rs 1,318.82 million and has been a member of the stock exchange since 1984.

Askari General Insurance Set to Review Quarterly Accounts

Rawalpindi, The Board of Directors of Askari General Insurance Company Limited is scheduled to meet on April 23, 2024, in Rawalpindi to review the company's quarterly accounts for the period ending March 31, 2024. The meeting will focus on the potential declaration of any entitlements related to the accounts.

Furthermore, Askari General Insurance has announced a closed period from April 17, 2024, to April 23, 2024, in compliance with section 5.6.1(d) of the Pakistan Stock Exchange Regulations. During this period, directors, the CEO, and executives are prohibited from directly or indirectly dealing in the company’s shares.

Stakeholders and TRE Certificate Holders have been notified of these developments as required.

International Steels Ltd. Continues Strong Dividend Performance, EPS Growth

Karachi, International Steels Ltd. (ISL) has continued its strong dividend payout with 65% in 2023, increasing from 55% in 2022, and declared a 25% interim dividend for 2024. The steel company reported an EPS of Rs 63.26 for the quarter ending March 2024. Today, the stock was traded at Rs 75.04, slightly below its daily weighted average rate of Rs 77.30. The company, which has a substantial paid-up capital of Rs 4,350.00 million, has been listed since 2011.

International Steels Ltd. Continues Strong Dividend Performance, EPS Growth

Karachi, International Steels Ltd. (ISL) has continued its strong dividend payout with 65% in 2023, increasing from 55% in 2022, and declared a 25% interim dividend for 2024. The steel company reported an EPS of Rs 63.26 for the quarter ending March 2024. Today, the stock was traded at Rs 75.04, slightly below its daily weighted average rate of Rs 77.30. The company, which has a substantial paid-up capital of Rs 4,350.00 million, has been listed since 2011.

Maple Leaf Cement Announces Completion of Share Buy-Back Period

Lahore, Maple Leaf Cement Factory Limited has successfully concluded the buy-back period of its issued ordinary shares, completing the process on April 15, 2024, as per the company’s latest filings with the Pakistan Stock Exchange.

Maple Leaf Cement Factory Limited reported that it has acquired a total of 25,783,624 shares, constituting 2.40% of its issued and paid-up share capital. This action is in line with the shareholder authorization during the Annual General Meeting on October 19, 2023, which approved the buy-back of up to 100,000,000 shares.

The company emphasized that these shares were purchased at the prevailing market prices during the buy-back period and will be subsequently cancelled as stipulated by regulatory requirements. This buy-back initiative, as outlined under Regulation 10(g) of the Listed Companies (Buy-Back of Shares) Regulations, 2019, aimed at enhancing shareholder value.

Notices detailing the closure of the buy-back period are set to be published in The Business Recorder and Nawa-e-Waqt, ensuring compliance with regulatory communication requirements and informing all stakeholders of the completion of this phase.

Ittefaq Iron Industries Posts Lower Earnings, No Dividend Declared

Karachi, Ittefaq Iron Industries (ITTEFAQ) reported a decrease in its quarterly earnings with an EPS of Rs 5.99, and the shares were traded at a rate of Rs 6.41 today, with a slightly lower daily weighted average rate of Rs 6.30. The company did not declare any dividends for 2022 through 2024. Ittefaq Iron Industries, holding a paid-up capital of Rs 1,443.43 million, has been listed on the Pakistan Stock Exchange since 2017.

Ittefaq Iron Industries Posts Lower Earnings, No Dividend Declared

Karachi, Ittefaq Iron Industries (ITTEFAQ) reported a decrease in its quarterly earnings with an EPS of Rs 5.99, and the shares were traded at a rate of Rs 6.41 today, with a slightly lower daily weighted average rate of Rs 6.30. The company did not declare any dividends for 2022 through 2024. Ittefaq Iron Industries, holding a paid-up capital of Rs 1,443.43 million, has been listed on the Pakistan Stock Exchange since 2017.

Altern Energy Limited Announces Stock Transactions by Director on Pakistan Stock Exchange

Karachi, Transactions involving shares of Altern Energy Limited by a non-executive director have been officially disclosed to the Pakistan Stock Exchange (PSE), in compliance with the regulatory requirements.

The transactions, as reported to the PSE, were executed by Mr. Shah Muhammad Ch., a non-executive director of Altern Energy Limited. On March 26, 2024, Mr. Shah sold 4,500 shares at a rate of 21.48 PKR per share. The following day, on March 27, 2024, he sold an additional 12,000 shares at a rate of 21.15 PKR per share. Both transactions were carried out through the Central Depository Company (CDC) and were marked as ready market transactions.

The company has confirmed that these transactions will be reviewed in the upcoming board meeting. The review will include any non-compliance issues as stipulated by clause No. 5.6.1.(d) of PSX Regulations. Altern Energy Limited has also confirmed adherence to the Securities Act of 2015, noting that the holding period for the shares was over six months. In cases where transactions are within a six-month period, the company assures that profits are managed in compliance with regulatory requirements, including depositing cheques equivalent to the profit with the Securities and Exchange Commission of Pakistan (SECP) under the intimation of the PSX.

K.S.B. Pumps Company Ltd. Reports Solid Earnings But No Dividends

Karachi, K.S.B. Pumps Company Ltd. (KSBP) announced an EPS of Rs 101 for the first quarter of 2024. The company’s share price stood at Rs 122.53 today with a daily weighted average of Rs 125.30. Despite strong earnings, no dividends were declared for the years 2022 to 2024. The firm has a paid-up capital of Rs 132.00 million and has been listed since 1979.

K.S.B. Pumps Company Ltd. Reports Solid Earnings But No Dividends

Karachi, K.S.B. Pumps Company Ltd. (KSBP) announced an EPS of Rs 101 for the first quarter of 2024. The company’s share price stood at Rs 122.53 today with a daily weighted average of Rs 125.30. Despite strong earnings, no dividends were declared for the years 2022 to 2024. The firm has a paid-up capital of Rs 132.00 million and has been listed since 1979.