SNGPL approves 25pc dividend

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SNGPL approves 25pc dividend

LAHORE   The shareholders of SNGPL at their 49th AGM, held at a local hotel on Wednesday, approved 25pc cash dividend and 10 per cent bonus shares for the financial year ended June 30, 2012.

They also approved annual audited accounts along with auditors report thereon, said the SNGPL spokesperson.

As regards appointment of auditors, the shareholders approved single audit firm viz. M/s A.F. Ferguson & Company, instead of joint auditors, in order to conduct the audit of the Company’s annual and half yearly accounts for the financial year ending June 30, 2013. The company earned gross profit Rs7,230 million whereas the net profit after tax was Rs3,044 million during FY 2011-12.

The earning per share for the year was Rs5.28 as against Rs1.95 for FY 2010-11. The shareholders appreciated the efforts of the Company for reducing the Unaccounted for Gas (UFG) losses from 11.21 per cent to 10.20 per cent during the period under review.

The AGM was chaired by Mian Misbah-ur-Rehman, Chairman Board of Directors while SNGPL MD Arif Hameed, Directors Nessar Ahmed, Ahmed Aqeel and Qazi Muhammad Saleem were also present at the AGM.

Courtesy:  The Nation

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