Oil and Gas Development Company Limited (OGDCL) Monday held its 26th annual meeting of shareholders for the fiscal year 2022-23 at its Head Office in Islamabad, the 24NewsHD TV channel reported.
The meeting was told that the company generated a total revenue of Rs.413.6 billion in the ongoing year.
OGDCL paid Rs159 billion in various taxes and the company's net profit after the tax payments was Rs224.6 billion.
The profit gained this year was 59% more as compared to the profit earned in the same period of the last year. The earnings per share also increased from Rs31.11 to Rs52.23.
In the meeting, the Board of Directors announced an interim dividend of Rs2.75 per share for the period ending on June 30 2023 at 27.5% this ongoing year. This profit is in addition to the 58 percent per share already paid to the shareholders.
The shareholders of OGDCL appreciated the company's continuous improvement in performance, innovation and progress in sustainable initiatives in various fields.
OGDCL Chairman Board of Directors Mr. Zafar Masood presided over the meeting. The meeting was attended by the CEO Ahmed Hayat Lak, the Managing Director and other members of the board, senior management, and a large number of shareholders of the company.