Karachi: Ittehad Chemicals Limited has reported its financial outcomes for the fiscal year ended June 30, 2024. According to the details provided, the Lahore-based chemical company has declared a final cash dividend of Rs. 1.5 per share, representing a 15% dividend in addition to the interim dividend of Rs. 2 per share, or 20%.

The company conveyed this information in an official communication to the Pakistan Stock Exchange (PSX), indicating that the Board of Directors had approved these dividends during a meeting on October 2, 2024, at the company's registered office on Empress Road, Lahore. According to information available from the Pakistan Stock Exchange (PSX), Ittehad Chemicals confirmed there would be no issuance of bonus or right shares this year. The company’s financial performance, detailed in Annexure "A," showed a net profit of Rs. 1.39 billion, with earnings per share settling at Rs. 13.86 for the year.

Furthermore, Ittehad Chemicals has scheduled its book closure from October 21 to October 28, 2024, during which share transfers will be frozen to finalize the dividend payments. The company's Annual General Meeting is slated for October 28, 2024, at the same Lahore address.

The financial statement reveals that the company achieved a gross profit of Rs. 4.81 billion, with revenues slightly lower than the previous year at Rs. 24.31 billion. Operational challenges were evident as both selling and distribution expenses, along with general and administrative expenses, decreased in comparison to the prior year.