Islamabad: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) announced a final cash dividend of Rs 6 per share for the fiscal year ending June 30, 2026, marking a 60 percent payout. This declaration, made during the board meeting on September 4, 2026, follows interim dividends amounting to Rs 11 per share, or 110 percent, culminating in the highest dividend ever announced by the company. Shareholders registered by October 8, 2026, will be eligible for this dividend, with the share transfer books closed from October 9 to October 16, 2026.
The company's annual general meeting is scheduled for October 16, 2026, in Islamabad, where further details of the financial year will be discussed. According to the financial results, OGDCL reported a significant increase in profit for the year ended June 30, 2026. The profit surged to Rs 242.37 billion from the previous year's Rs 169.90 billion. The company's earnings per share also rose to Rs 56.35 from Rs 39.50, reflecting a strong performance.
The revenue generated from contracts with customers reached Rs 449.19 billion, compared to Rs 401.18 billion in the prior year. This increase in revenue contributed to a gross profit of Rs 246.76 billion, up from Rs 231.61 billion. Meanwhile, operating expenses rose to Rs 147.69 billion, up from Rs 120.20 billion, impacting the overall financial results.
According to information available from the Pakistan Stock Exchange (PSX), the company's reserves increased, with a notable rise in unappropriated profit to Rs 1.44 trillion from Rs 1.27 trillion. This robust financial positioning is complemented by the company's strategic investments in development and production assets, which grew to Rs 168.64 billion from Rs 139.01 billion.
On the liabilities side, non-current liabilities showed a minor reduction from the previous year, amounting to Rs 179.79 billion from Rs 181.09 billion. Current liabilities, however, experienced a moderate increase, reaching Rs 153.49 billion, up from Rs 125.28 billion.
The company's financial health is further underscored by its substantial cash and bank balances, which grew to Rs 62.14 billion from Rs 52.81 billion. Additionally, other financial assets saw a significant move, increasing to Rs 269.92 billion from Rs 152.71 billion.
The Oil & Gas Development Company Limited's performance highlights its solid footing within the energy sector, as evidenced by its financial results for the year. The market will closely watch the upcoming annual general meeting for further insights into the company's future strategies and potential impacts on the energy sector.