Karachi, Pak Elektron Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 23, 2019.
The agenda of the meeting was discussion of consolidated and unconsolidated profit and loss account for quarter ended June 30, 2019 which portrayed a profit of Rs. 392,744 and Rs. 94,268 with earnings per share 0.77 and 0.17 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Pak Elektron Limited was incorporated in Pakistan on March 03, 1956 as a public limited company. The foundations of the company are developed under the Companies Ordinance, 1984. The principal activity of the company is manufacturing and sale of electrical capital goods and domestic appliances. It is currently organized into two main operating divisions the power division and appliances division. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Lahore.
The activities of the company in the power division include manufacturing and distribution of transformers, switchgears, energy meters, power transformers, construction of grid stations and electrification works. The appliance division is associated with manufacturing, assembling and distribution of refrigerators, air conditioners, microwave ovens, televisions, generators and washing machines.
The symbol “PAEL” is being used by the stock exchanges for the shares of Pak Elektron Limited.