PNSC Declares Record Dividend at 46th AGM

PNSC (Group) reported earnings per share

of Rs. 152.81, compared to

Rs. 227.11 in the previous year

Staff Reporter

Karachi: Pakistan National Shipping Corporation (PNSC), the National Flag Carrier, held its 46th Annual General Meeting (AGM) for the financial year 2023-24 on October 28, 2024. The meeting, chaired by PNSC Board Chairman Sultan A. Chawla, saw the participation of Executive Directors and senior officials.

Key Financial Highlights

The Corporation approved the financial results for the year ending June 30, 2024. PNSC (Group) reported earnings per share of Rs. 152.81, compared to Rs. 227.11 in the previous year. PNSC declared a record-high final cash dividend of Rs. 25 per share (250%) and an interim dividend of Rs. 10 per share (100%), totaling Rs. 35 per share (350%). Additionally, shareholders will receive 50 bonus shares for every 100 shares held (50%).

Performance Overview

The Group achieved a turnover of Rs. 46.36 billion and a profit after tax of Rs. 20.18 billion, the second highest in PNSC history. In comparison, the previous year’s turnover was Rs. 54.60 billion with a profit after tax of Rs. 29.99 billion, driven by non-recurring gains, including Rs. 3.34 billion from vessel sales and Rs. 3.04 billion in exchange gains.

Auditor Re-appointment

The AGM also approved the re-appointment of auditors for the fiscal year ending June 30, 2025. Chairman Chawla concluded the session by expressing gratitude to participants and optimism for PNSC’s continued growth.