Karachi, Towellers Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 23, 2022.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2021 which portrayed a profit of Rs. 350,213,537 with earnings per share 2.60 basic and diluted respectively.
Further, 20% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from March 03, 2022 to March 07, 2022 (both days inclusive).
The company was incorporated in Pakistan as a private limited company on May 31, 1973 and subsequently converted into a Public Limited Company on June 22, 1994. The principle activity of the company is to manufacture and export textile make ups, garments and towels. The company is currently maintains in-house processing, weaving, knitting and finishing facilities.
Incorporated in 1987, the Towellers knit apparel division is vertically integrated unit that manufactures 6 million units annually and has the diversity of producing basic lines along with washed and embellished value added collections
The total numbers of shares are 17,000,000. The Earnings per share is 14.18 in 2020 which was 23.69 in 2019. The Profit after Taxation is 275,894,000 in 2020 which was 402,684,000 in 2019.