ISLAMABAD - The Board of Directors of Oil and Gas Development Company Limited (OGDCL), in its meeting held on Thursday at Islamabad, approved the financial results for nine months ended March 31, 2022 of fiscal year 2021-22. The company’s net sales clocked at Rs 240.267 billion translating to a profit after tax of Rs 112.044 billion and earnings per share of Rs 26.05 for the nine months ended March 31, 2022.

The Board of Directors also approved the third interim cash dividend @ Rs 1.0 per share in addition to earlier interim dividends of Rs 3.75 per share. The company paid Rs 27.092 billion as royalty which will be ultimately be transferred to the provinces besides Rs 57.906 billion in the form of taxes during the nine month period.

The above entitlement will be paid to the shareholders whose names will appear in the register of members on May 12, 2022. The share transfer books of the company will be closed from May 13, 2022 to May 17, 2022 (both days inclusive). Transfers received at the CDC share Registrar Services Limited, CDC House, 99-B, Block “B”, S.M.C.H.S., Main Shahrah-e-Faisal, Karkachi-74400 at the close of business on, May 12, 2022 will be treated in time for the purpose of above entitlement to the transferees.

The company maintained its profitability despite challenges due to outbreak of Covid-19 pandemic. OGDCL continues to be the market leader in the E&P sector and plans to accelerate its exploratory activities in the future as seismic work in newly awarded blocks will be undertaken.