Karachi: First Imrooz Modaraba has announced a cash dividend of Rs. 15 per certificate for the fiscal year ended June 30, 2024, marking a significant payout of 150%. This declaration followed a Board of Directors meeting at their Beaumont Road office in Karachi.

The financial performance of First Imrooz Modaraba showed robust sales of Rs. 1,260.14 million for 2024, although this was a decrease from Rs. 1,668.53 million in 2023. The cost of sales also saw a reduction, leading to a gross profit of Rs. 268.06 million compared to the previous year's Rs. 166.79 million.

Operating expenses totaled Rs. 75.72 million, in line with the previous year, while operating profit doubled to Rs. 192.35 million from Rs. 93.14 million in 2023. The company reported a net profit after tax of Rs. 72.32 million, rebounding from a loss of Rs. 2.70 million the year before, and earnings per certificate rose to Rs. 24.11, a significant recovery from a loss of Rs. 0.90 per certificate in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the Board also scheduled the Annual Review Meeting for October 28, 2024, at the Modaraba's registered office in Lahore. The Certificate Transfer Books will be closed from October 15 to October 28, 2024, to facilitate the profit entitlement process.

The company has urged all certificate holders to update their bank details, including IBAN, in their respective Central Depository System (CDS) accounts, and to inform the Registrar at F.D. Registrar Services in Karachi of any changes to ensure timely receipt of their dividends.