Karachi: Pakistan Oilfields Limited conducted its 73rd Annual General Meeting on October 17, 2024, resulting in the approval of several key resolutions concerning financial statements and dividend payments for the fiscal year ending June 30, 2024.

The shareholders unanimously approved the Directors' and Auditors' Reports along with the audited Standalone and Consolidated Financial Statements for the year ended June 30, 2024. This includes a confirmation of a hefty dividend payout already distributed among the shareholders. According to information available from the Pakistan Stock Exchange (PSX), the meeting highlighted the company's robust financial performance and the board's transparency in financial dealings.

The financial statements revealed that the company had previously distributed an interim cash dividend of 250%, amounting to Rs. 25.00 per share, which was ratified during this meeting. Additionally, an extraordinary final cash dividend of 700%, equivalent to Rs. 70 per share, was also approved, emphasizing the company's strong profitability and its commitment to returning value to its shareholders.

In governance matters, A.F. Ferguson and Co. was reappointed as the auditors for the upcoming fiscal year ending June 30, 2025, with the remuneration fixed by the Chief Executive. The reappointment reflects the company's satisfaction with the services provided by the auditors and their willingness to continue in their role.

The decisions made during this meeting underscore Pakistan Oilfields' continued emphasis on strong financial health and shareholder return. These actions not only demonstrate a firm commitment to corporate governance but also reassure shareholders about the company’s ongoing growth prospects.