The Board of Directors of Pakistan Petroleum Limited at its meeting held on Friday, 26th February 2021 has declared an interim cash dividend of Rs. 1.50 per share (15%) on Ordinary Shares and Rs. 1.50 per share (15%) on Convertible Preference Shares for the year ending 30th June 2021. The interim dividend will be paid to those members whose names appear in the register of members of the Company as at the close of business on Monday, 12th April 2021.

The Share Transfer Books of the Company will remain closed from Tuesday, 13th April 2021 to Monday, 19th April 2021 (both days inclusive).

1.    Tax Implications on Dividends:

Tax Rates 

Withholding tax on dividend is as follows:

Pursuant to applicable law, 15% withholding tax for filers of income tax returns and 30% withholding tax for non-filers is applicable.

A ‘filer’ is defined by applicable law as a taxpayer whose name appears in the Active Taxpayers List (ATL) periodically issued by the FBR and a ‘non-filer’ is a person other than a filer.

The ATL may be viewed on the FBR’s website: The Company will ascertain the tax status of members as at the first day of book closure and will deduct withholding tax accordingly.

Corporate members who hold CDC accounts should provide their National Tax Number (NTN) to the concerned participants. Members who hold share certificates should provide a copy of the NTN certificate to the Company’s Share Registrar: Messrs. FAMCO Associates (Private) Limited (Share Registrar) at 8-F, Adjacent to Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi, and the name of the Company and folio numbers of shares held by them should be mentioned. 

Tax on Joint Shareholding 

Tax will be deducted in proportion to shareholding in joint names or joint accounts. Holders will be treated individually as filers or non-filers in accordance with their tax status.

Joint shareholders should notify the proportion of their shareholding to the Company’s Share Registrar in the following form latest by 12th April 2021:

CDC Account Number

Name of Shareholders (Principal / Joint Holders)

Number or Percentage of Shares Held (Proportion)

CNIC Number



















If the proportion of shareholding is not notified then each joint shareholder will be presumed to hold an equal proportion of shares.

Tax Exemption Certificate 

A valid tax exemption certificate is necessary pursuant to Section 150 of the Income Tax Ordinance, 2001 for claiming an exemption from the deduction of withholding tax. A copy of a valid tax exemption certificate should be submitted to the Company’s Share Registrar before the date of book closure by members who wish to avail an exemption from withholding tax. 

2.    Dividend Bank Mandate

The following information should be provided to enable the electronic transfer of dividend to the designated bank accounts of the members:

Folio Number:


Name of Shareholder:


Title of the Bank Account:


International Bank Account Number:
(24 digit IBAN):


Name of Bank:


Name of Bank Branch and Address:


Cellular Number of Shareholder:


Landline Number, if any, of Shareholder:


CNIC or NTN Number (Copy to be attached):


Signature of Member:



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

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

3.    Intimation of Change of Address and Declaration for Non-deduction of Zakat

Members who hold share certificates should notify any change in their registered address and submit declarations, if applicable, in respect of non-deduction of zakat to the Share Registrar. Members who hold shares in CDC or CDC sub-accounts should notify any change in address and submit declarations, if applicable, in respect of non-deduction of zakat to the CDC or the concerned participants.

4.    CNIC

Dividend will be paid only to those members who have submitted copies of their valid CNIC. Names of members who have not submitted copies of their CNICs can be viewed on the Company’s website: 

Shahana Ahmed Ali 
Company Secretary

P.I.D.C. House 
Dr. Ziauddin Ahmed Road 

27th February 2021