Karachi: Fatima Fertilizer Company Limited has declared an interim cash dividend of Rs. 2.75 per share for the half-year ended June 30, 2024, which equates to a 27.5% payout. According to information available from the Pakistan Stock Exchange (PSX), this declaration comes after a Board of Directors meeting held electronically on August 27, 2024. The dividend is an addition to the previously distributed dividend, which was Rs. Nil per share. No new bonus shares, rights shares, or other corporate actions were announced.

Further to prior announcements, the company has confirmed the implementation of a Scheme of Arrangement transferring operations of its Sheikhupura plant to Fatimafert Limited, effective from July 01, 2024. This move is aimed at streamlining operations and enhancing efficiency within its subsidiary structures.

Financially, the company reported significant figures in its unaudited condensed interim statement of profit or loss for the six months ended June 30, 2024. The earnings per share (EPS) stood at Rs. 6.30, compared to Rs. 2.44 in the corresponding period last year. The gross profit reached Rs. 31.21 billion, up from Rs. 20.29 billion year-on-year. Notably, the net profit before tax for the period was reported at Rs. 25.96 billion, marking a substantial increase from Rs. 15.42 billion in the previous year.

Shareholders registered by September 05, 2024, will be entitled to the declared dividend, with the share transfer books of the company scheduled to close from September 06, 2024, to September 10, 2024. All transfers received by the close of business on September 05, 2024, will be processed in time for eligibility for the dividend.

The financial disclosure underscores Fatima Fertilizer’s strategic adjustments and robust financial health, reflecting its ongoing commitment to shareholder value amidst operational transitions. The company also plans to release its quarterly report through PUCARS within the specified timeframe.