Karachi, Hub Power Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 12, 2019.
The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for year ended June 30, 2019 which portrayed a profit of Rs. 8,036,981 and Rs. 11,930,307 with earnings per share 6.70 and 9.37 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from October 17, 2019 to October 24, 2019 (both days inclusive).
HUBCO was incorporated in Pakistan in 1991as a limited liability company. The company owns oil-fired power station with installed net capacity of 1,200 MW in Baluchistan and 214 MW Punjab. The Hub Power Company is listed on the Karachi, Lahore and Islamabad Stock Exchanges. The Global depository receipts are also listed on the Luxemburg Stock Exchange.
The production capacity of the power stations varies. The business partners of HUBCO are Water and Power Development Authority, Pakistan State Oil, National Transmission and Despatch Company Limited, BAKRI Trading Company Pakistan, Government of Pakistan, Government of Baluchistan and International Power.
The symbol “HUBC” is being used by the stock exchanges for the shares of the Hub Power Company Limited.