Karachi, Adam Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2020.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 41,471,229 with earnings per share 2.40 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Adam Sugar Mills Limited was incorporated in Pakistan in 1965 in the name of Bahawalnagar Sugar Mills Limited as a public limited company. In 1985 the name of the company was changed to Adam Sugar Mills Limited. The provisions and directives of the Companies Ordinance, 1984 prevail within the organization. The company is engaged in the business of manufacturing sugar. The registered office of the company is located in Karachi. The factory is situated in Punjab. The shares of the company are quoted on Karachi and Lahore stock Exchanges of Pakistan.
The symbol “ADAMS” is being used by the stock exchanges for the shares of Adam Sugar Mills Limited.