Pak Elektron Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on March 15, 2017.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2016 which portrayed a profit of Rs. 3,669,940 with earnings per share 7.51 basic and diluted respectively.
Further, 17.50% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from April 18, 2017 to April 24, 2017 (both days inclusive).
The announcement is available athttps://www.psx.com.pk/newsattachment/096040.pdf
Pak Elektron Limited was incorporated in Pakistan on March 03, 1956 as a public limited company. The foundations of the company are developed under the Companies Ordinance, 1984. The principal activity of the company is manufacturing and sale of electrical capital goods and domestic appliances. It is currently organized into two main operating divisions the power division and appliances division. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Lahore.
The activities of the company in the power division include manufacturing and distribution of transformers, switchgears, energy meters, power transformers, construction of grid stations and electrification works. The appliance division is associated with manufacturing, assembling and distribution of refrigerators, air conditioners, microwave ovens, televisions, generators and washing machines.
The symbol "PAEL" is being used by the stock exchanges for the shares of Pak Elektron Limited.
© Pakistan Press International, source Asianet-Pakistan