56th Annual General Meeting Of SNGPL Shareholders Held

56th annual general meeting of SNGPL shareholders held

LAHORE, (UrduPoint / Pakistan Point News - 30th Jul, 2021 ) :The 56th annual general meeting of shareholders of Sui Northern Gas Pipelines Limited (SNGPL) held here on Thursday which approved Annual Accounts for the FY 2019-20 with profit after tax of Rs. 5,998 million translating into Earning Per Share (EPS) of Rs 9.46.

The shareholders also approved Cash Dividend of 40% i.e. Rs. 4.0 per share on the recommendations of the board of Directors of the SNGPL, said a press release.

Moreover, the shareholders re-appointed M/s. Yousaf Adil, Chartered Accountant as Auditors for FY 2020-21.

The Chairperson, Roohi Raees Khan, informed the shareholders that despite numerous economic, financial challenges, the SNGPL remained focused on yielding good results under the wise guidance of the Board of Directors along with consistent efforts of the management and staff.

She added that the Company declared the dividend for the third consecutive year.

She also briefed the shareholders about the Board of Directors' first-ever visit to Khyber Pakhtunkhwa and meeting with the Chief Minister Khyber Pakhtunkhwa.

She appreciated the role of Khyber Pakhtunkhwa government in supporting the process of laying of company's distribution network in the areas of Karak etc., the highest UFG loss areas, which has resulted in significant reduction in UFG losses.

Managing Director Ali J. Hamdani, Directors Mohammad Haroon, Ahmad Aqeel and Dr. Sohail Razi Khan, Chief Financial Officer Faisal Iqbal and others were present.