Oil and Gas Development Company Limited Holds 29th Annual General Meeting in Islamabad; Approves Record-Breaking Total Annual Dividend of Rs. 17 Per Share (170%)
ISLAMABAD: On 16th October, Oil and Gas Development Company Limited (OGDCL) successfully conducted its 29th Annual General Meeting (AGM) at the corporate office of the company in Islamabad.
At the high-level meeting shareholders formally approved a final dividend in cash of Rs. For a 6 per share (60%) dividend, the seven years of dividends are: Rs. Of these, 11 per share (110%) have been disbursed so far in the financial year. This makes the enlarged dividend for the year be Rs. The dividend per share (DPS) of 17 per share was the highest annual dividend dividend ever paid in the company’s corporate history.
The following are some of the highlights from OGDCL’s 29th Annual General Meeting and financial report.
OGDCL Board Chairman Mr. Zafar Masud presided over the Annual General Meeting (AGM) along with Managing Director and CEO Mr. Ahmed Hayat Lak and members of the Board of Directors to preside over the meeting and participation.The Annual General Meeting (AGM) was chaired by Mr. Zafar Masud, Chairman of the Board of Directors of the OGDCL, along with Mr. Ahmed Hayat Lak, Managing Director and CEO of OGDCL and other respected members of the Board of Directors. The meeting took place in a blended fashion, with some participants attending in person and others through live feed, with management fielding inquiries from the shareholders.
Commitment to Energy Security: Management affirmed that OGDCL is strongly committed to ensure optimal energy security of the country by stressing on energy security through energy exploration & production in an optimum manner while ensuring responsible energy growth of the company.
Maximizing Shareholder Value: The record-breaking dividend highlights the company’s unwavering commitment to create sustainable economic value, explore new business opportunities, and create long-term value for its investors, while making significant contributions to the energy sector and the economy of Pakistan.