PPL’s 60th AGM approves 20% cash dividend and 10% bonus

PPL’s 60th AGM approves 20% cash dividend and 10% bonus

Pakistan Petroleum Limited Board members and management at the company 60th Annual General Meeting held on September 30 2011
Pakistan Petroleum Limited Board members and management at the company 60th Annual General Meeting held on September 30 2011

PPL’s 60thAGM approves 20% cash dividend and 10% bonus 

KARACHI, SEPTEMBER 30, 2011: The 60th Annual General Meeting (AGM) of Pakistan Petroleum Limited (PPL) was held on September 30, 2011.

The AGM approved the financial statements together with the auditor’s report for the financial year ended June 30, 2011. It further approved payment of final cash dividend of 20 percent on ordinary share capital and issue of bonus shares in proportion of 1 ordinary share for every 10 ordinary shares held by members.

On behalf of the PPL Board, MD and CEO Asim Murtaza Khan apprised members about the company’s performance, focusing on the significant events of the year 2010 – 2011. He stated that strategically the company remained on course, the main features of which were optimizing production and reserves replacement, enhancing exploration activities and embedding good governance and responsible corporate citizenship across the board in all operational areas.