OGDCL Records Highest-Ever Quarterly Cash Dividend

OGDCL has announced a final quarterly cash dividend of Rs. 4.00 per share (40%) for the fiscal year ended June 30, 2024, the highest-ever in the company's history. This is in addition to the interim dividends of Rs. 6.10 per share (61%) already paid to shareholders during the year. The final quarterly dividend of Rs. 4.00 per share is the highest quarterly dividend in the company's history, bringing the cumulative dividend payout for the year a remarkable 101%.
The Board of Directors of OGDCL, in its meeting held on September 23, 2024, in Islamabad, announced the company's financial results for the fiscal year. The company achieved net sales revenue of Rs. 463.698 billion and a profit after tax of Rs. 208.976 billion, translating to earnings per share (EPS) of Rs. 48.59. During the fiscal year, OGDCL contributed Rs. 218 billion to the national exchequer through taxes, dividends, and royalties.
The company also made five significant hydrocarbon discoveries during the year, further strengthening its portfolio. In terms of production, OGDCL achieved an average daily output of 33,117 barrels per day (BPD) of crude oil, 717 million standard cubic feet per day (MMSCFD) of gas, and 717 metric tons per day (MTD) of liquefied petroleum gas (LPG).
OGDCL also made significant progress in production optimization, generating annual savings of approximately Rs. 34 billion through import substitution.