The Board of Directors of Pakistan Hotels Developers Limited (PSX: PHDL) held a meeting on July 8, 2024, where they recommended an Interim Cash Dividend of Rs. 725 per share, equivalent to 7250 percent, for the financial year ending June 30, 2025.
Key Highlights:
- Interim Cash Dividend: The announced dividend is Rs. 725 per share (7250 percent), a significant payout derived from the sale proceeds of the Regent Plaza Hotel property.
- Dividend Payment: The dividend will be distributed to shareholders whose names appear on the company’s register of members on July 15, 2024.
- Share Transfer Books: The company’s share transfer books will be closed from July 16, 2024, to July 18, 2024, inclusive of both days.
- Property Sale: The Regent Plaza Hotel property was handed over to SIUT Trust after receiving 90 percent of the sale value on July 1, 2024.
- Dividend Details: This dividend is in addition to any previous interim cash dividends, which were reported as NIL.
Company Announcement:
PHDL announced the transfer of physical possession of Regent Plaza Hotel to SIUT Trust following the payment of 90 percent of the property’s sale value. The interim cash dividend will be distributed accordingly, benefiting shareholders registered by July 15, 2024.
