SNGPL’s shareholders approve 60pc cash dividend

LAHORE: The 53rd Annual General Meeting (AGM) of Sui Northern Gas Pipelines Limited was held on Wednesday, December 20, 2017 at Faletti’s Hotel, Lahore.

The meeting was chaired by Mr. Muhammad Saeed Mehdi, Chairman Board of Directors. Mirza Mahmood Ahmad, Mr. Mohammad Jehanzeb Khan, Mr. Mustafa Ahmad Khan, Mr. Sajjad Hussain, Directors, Mr. Amjad Latif, Managing Director, Mr. Saghir-ul-Hassan Khan, Chief Financial Officer and Miss Wajiha Anwar, Company Secretary as well as other members of the Management were also present in the meeting.

The Company’s Annual Accounts for the year ended June 30, 2017 were placed before the shareholders. As per declaration, the Company earned an all time highest after tax profit of Rs. 8,615 million in its history which translates to Earning Per Share of Rs.13.58.

The proposed dividend @ 60 percent i.e. Rs.6.00 per share and the Annual Accounts of the Company for FY 2016-17 were approved by the shareholders.

The shareholders also approved the appointment of M/s A.F. Ferguson & Co., Chartered Accountants as auditors of the Company for the Financial Year 2017-18.