Islamabad: Pakistan Tobacco Company Limited (PTCL) has declared a significant second interim cash dividend for the fiscal year ending December 31, 2024, at Rs. 30.00 per share, marking a 300% dividend rate. This follows an equivalent interim dividend already distributed earlier in the year.

The announcement came after the Board of Directors' meeting on August 7, 2024, where they also reviewed and approved the financial results for the second quarter ending June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the decision aligns with PTCL's consistent shareholder returns policy.

The shareholders registered by August 19, 2024, will be eligible for the dividend, with the company's Share Transfer Books remaining closed from August 20 to August 22, 2024. This period is crucial for processing the dividend disbursement.

Financial performance for the first half of 2024 shows a robust increase in domestic and export turnover, with figures reaching Rs. 179.05 billion and Rs. 2.26 billion respectively, compared to the previous year's Rs. 131.11 billion and Rs. 2.35 billion. Net turnover after excise duties and sales tax stood at Rs. 58.19 billion, up from Rs. 46.10 billion in the previous year.

The company achieved a gross profit of Rs. 23.64 billion for the first half of 2024, although slightly lower than the Rs. 26.63 billion from the previous year. Operating profit and net profit for the period were reported at Rs. 15.13 billion and Rs. 10.99 billion, respectively, showcasing a slight adjustment from the prior year's figures.