Islamabad: The Board of Directors of the Oil and Gas Development Company Limited (OGDCL) has declared an interim cash dividend of Rs 3.00 per share, equivalent to 30 percent, for the quarter ending September 30, 2024. The announcement was made following the board's meeting held on October 25, 2024, in Islamabad. This dividend will be distributed to shareholders whose names are recorded in the Register of Members by November 07, 2024.

The company's financial results for the quarter reveal a decrease in profit compared to the same period last year. According to information available from the Pakistan Stock Exchange (PSX), OGDCL reported a net profit of Rs 41,019.91 million for the quarter, down from Rs 49,037.60 million in the corresponding quarter of 2023. The company's earnings per share also declined to Rs 9.54 from Rs 11.40 in the previous year.

The Share Transfer Books of the company will remain closed from November 08, 2024, to November 11, 2024. Transfers received at the CDC Share Registrar Services Limited in Karachi by the close of business on November 07, 2024, will be eligible for the dividend entitlement. The company's quarterly report, detailing further financial summaries and performance highlights, will be disseminated through PUCARS in due course.