Investor Center

Financial Calendar 2018

 

Date Event

 

 

27 February 2018

Company Stock

Symbol

    PPL

Free Float of Shares

481,543,919 ordinary shares as on September 30, 2017

Weblinks

http://www.psx.com.pk/

Notices/ Announcements

NOTICE OF FINAL DIVIDEND / BONUS SHARES 2017-18 AND BOOK CLOSURE

 

The Board of Directors of Pakistan Petroleum Limited at its meeting held on 18th September 2018 has recommended the payment of a final cash dividend of Rs. 1.50 per share (15%) on Ordinary Shares and 15% bonus shares (15 Ordinary Shares for every 100 Ordinary Shares) for the financial year ended 30th June 2018. If approved by the members at the Annual General Meeting to be held on 26th October 2018 the final dividend shall be paid and bonus shares issued to the members whose names appear in the Register of Members as at the close of business on 15th October 2018.

 

The Share Transfer Books of the Company shall remain closed from 16th October 2018 to 26th October 2018 (both days inclusive).

 

  1. Tax Implications on Dividends:

 

Increased Tax Rates

 

Pursuant to the Finance Act 2017 an enhanced rate of withholding tax on dividend income has been stipulated in the Income Tax Ordinance, 2001.

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The revised rates of tax are as follows:

 

  1. 15% in the case of filers of income tax returns.

 

  1. 20% in the case of non-filers of income tax returns.

 

A ‘filer’ is a taxpayer whose name appears in the Active Taxpayers List (ATL) issued by the FBR from time to time and a ‘non-filer’ is a person other than a filer. The FBR has uploaded the ATL on its web-site, and it may be viewed at http://fbr.gov.pk.

 

The tax status of members as on the first day of book closure will be ascertained by the Company. Withholding tax at the rate of 20% will apply in the case of members whose names are not in the ATL. Withholding tax at the rate of 15% will apply in the case of members who are filers.

 

Corporate members who hold CDC accounts should intimate their NTN to their participants. Members who hold share certificates should provide a copy of their NTN certificate along with the Company’s name and their folio numbers to the Company’s share registrars, Messrs. FAMCO Associates (Private) Limited, 8-F, Next to Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi (the “Share Registrars”).

Tax in case of Joint Shareholders

 

The FBR has clarified that holders of shares held in joint names or joint accounts will be treated individually as either filers or non-filers and tax will be deducted according to the proportionate holding of each holder.

 

Joint shareholders should intimate the proportion of their respective joint holding to the Share Registrars latest by Monday, 15th October 2018 in the following form:

 

CDC Account Number

Name of Shareholders (Principle / Joint Holders)

Number or Percentage of Shares Held (Proportion)

CNIC Number

Signature

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Withholding tax will be deducted according to proportionate holdings. If the proportion of joint shareholding has not been intimated each joint shareholder will be presumed to hold an equal proportion of shares.

 

Valid Tax Exemption Certificate

 

A valid Tax Exemption Certificate is necessary for exemption from the deduction of withholding tax under Section 150 of the Income Tax Ordinance, 2001. Members who qualify under Clause 47 B of Part IV of the Second Schedule to the Income Tax Ordinance, 2001 and wish to seek an exemption should provide a copy of their valid Tax Exemption Certificate to the Shares Registrar prior to the date of book closure, otherwise tax will be deducted according to applicable law.

 

  1. Dividend Bank Mandate

 

Pursuant to Section 242 of the Companies Act, 2017 cash dividend shall be paid only by electronic transfer into the bank account of the shareholder designated for the purpose. Accordingly the following information must be provided:

 

Folio Number:

 

Name of Shareholder:

 

Title of the Bank Account:

 

International Bank Account Number (IBAN):

 

Name of Bank:

 

Name of Bank Branch and Address:

 

Cellular Number of Shareholder:

 

Landline Number of Shareholder:

 

CNIC / NTN Number (Attach copy):

 

Signature of Member:

 

 

Note: Signature must match specimen signature registered with the Company.

 

Members who hold shares in CDC accounts should provide their bank mandates to their respective participants.

 

  1. Intimation of Change of Address

 

Members who hold share certificates should notify any change in their registered address and provide their declarations for non-deduction of zakat, if applicable, to the Share Registrar. Members who hold shares in CDC / participant accounts should update their addresses and submit their declarations for non-deduction of zakat, if applicable, to the CDC or their respective participants / stockbrokers.

 

  1. Submission of CNIC Copies

 

The dividend warrants of members whose CNIC copies have not been received by the Company shall not be dispatched until receipt thereof. The names of the members whose CNIC copies have not been received by the Company may be viewed on the Company’s website: www.ppl.com.pk.

 

 

 

 

Shahana Ahmed Ali

Company Secretary

 

 

Registered Office

P.I.D.C. House

Dr. Ziauddin Ahmed Road

Karachi

 

Equity Structure

Pakistan Petroleum Limited (PPL)’s shareholding is divided between:

Shareholders

Percentage