Karachi, JDW Sugar Mills Limited has successfully credited the eagerly awaited Second Interim Cash Dividend for the financial year ending on September 30, 2023. The Company took this step on August 11, 2023, solidifying its commitment to delivering value to its investors.

The announcement of the Second Interim Cash Dividend was made by the board of directors on July 25, 2023, setting the dividend rate at an impressive Rs. 15 per share, equivalent to 150% on each share's nominal value.

The dividend distribution is composed of two components based on the Company's financial performance and tax regulations. Firstly, a sum of Rs. 2.00 (20%) per share has been allocated from the profits generated by the Sugar Division of the Company. This portion of the dividend is subject to the standard income tax deduction rates under the normal regime as specified in the Income Tax Ordinance, 2001. For filers, the deduction is set at 15%, while non-filers will experience a 30% deduction.

The second component of the dividend, amounting to Rs. 13.00 (130%) per share, is derived from the Power Division's profits. This portion of the dividend is subject to taxation under a special regime, with a reduced tax rate. For filers, the tax deduction rate is set at 7.5%, whereas non-filers will be subject to a 15% deduction. These tax rates are prescribed in Clause 18-C of Part-II of the Income Tax Ordinance, 2001.

The dividend distribution underscores the Company's robust financial performance across its various divisions. JDW Sugar Mills Limited remains a prominent player in the industry, achieving growth and stability despite economic challenges. The successful distribution of the Second Interim Cash Dividend demonstrates the Company's commitment to its shareholders and its ability to generate substantial profits.

Shareholders who were eagerly anticipating this dividend can now enjoy the financial rewards of their investment as the credited dividend reaches their designated bank accounts. This event not only reflects the Company's financial health but also serves as a testament to its transparent and responsible governance.

As the financial year draws to a close on September 30, 2023, JDW Sugar Mills Limited continues to stand as a noteworthy example of effective management, fiscal resilience, and commitment to shareholder value.