PPL declares an interim cash dividend for 2023-24

Staff Report

Pakistan Petroleum Limited has declared an interim cash dividend of Rs 2.50 per share for the financial year ending 30th June 2024.

The Board of Directors Pakistan Petroleum Limited approved the interim cash dividend in a meeting held on Monday.

Pakistan Petroleum Limited has declared an interim cash dividend of Rs. 2.50 per share on Ordinary Shares and Convertible Preference Shares for the financial year ending 30th June 2024.

The dividend will be paid to members whose names appear in the register of members as of 6th March 2024. Share Transfer Books will be closed from 7th to 11th March 2024.Pakistan’s Petroleum Imports Dropped by Over 12% in 2023-24

Tax implications on dividends include 15% withholding tax for filers of income tax returns and 30% for non-filers.

Corporate members holding CDC accounts should provide their National Tax Number (NTN), and individuals holding share certificates should provide a copy of the NTN certificate.

Tax will be deducted in proportion to shareholding in joint names or accounts. A valid tax exemption certificate is necessary to claim exemption from withholding tax.

Information required for electronic transfer of dividends includes folio number, shareholder’s name, bank account details, IBAN, bank name, branch, address, and contact numbers.

Members should notify changes in address and submit declarations for non-deduction of zakat to the Share Registrar.

In a notice issued to the Stock Exchange, PPL said that dividends will only be paid to members who have submitted copies of their valid CNIC.

Members’ names who haven’t submitted CNIC copies can be viewed on the company’s website.