Faisalabad: Rafhan Maize Products Company Limited, in a meeting held on October 24, 2024, has declared a third interim cash dividend for the quarter ended September 30, 2024, adding to two previous interim dividends of Rs. 75 and Rs. 100 per share respectively. The exact amount of the latest dividend was not specified in the company's announcement. According to information available from the Pakistan Stock Exchange (PSX), this payout reflects the company's continued financial health and commitment to shareholder returns.

For the third quarter of 2024, Rafhan Maize reported a revenue of Rs. 16.69 billion, an increase from Rs. 15.48 billion in the same period last year. The company's gross profit for the quarter was Rs. 3.83 billion, up from Rs. 2.90 billion a year earlier. This performance brings the nine-month revenue total to Rs. 50.32 billion, slightly above last year's Rs. 49.37 billion, with a corresponding gross profit of Rs. 10.72 billion compared to Rs. 11.71 billion in 2023.

Operational expenses, including distribution and administrative expenses, amounted to Rs. 578.20 million for the quarter, alongside other incomes and expenses shaping the net financial landscape. Rafhan Maize's operating profit for the quarter stood at Rs. 3.21 billion, up from Rs. 2.38 billion in the previous year, demonstrating robust operational efficiency.

However, the finance costs have increased, marking Rs. 187.94 million for the quarter, which is a decrease from the previous quarter but higher year-on-year. After accounting for taxes, the net profit for the quarter amounted to Rs. 1.85 billion, showing an increase from Rs. 1.35 billion in the same quarter of the previous year.

Shareholders registered by November 5, 2024, will be eligible for the recently announced dividend, with the company's share transfer books to be closed on November 6 and 7, 2024. Additionally, Rafhan Maize is set to release its detailed quarterly report through PUCARS, ensuring compliance with disclosure standards and facilitating transparency.

Rafhan Maize's strategic financial management and its ability to maintain profitability amidst varying market conditions highlight its resilience and proactive approach to shareholder value enhancement.