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32.64 percent companies made profits, 23.57 percent paid dividend

KARACHI (December 19 2002) : As per the results, 32.64 percent of Karachi Stock Exchange (KSE) listed companies are profit making, while 23.57 percent paid dividends during 2002.

The KSE on Wednesday released the annual report for the year 2002 and said that out of 717 companies, 340 companies announced their financial results, of which 169 companies, or 23.57 percent, paid dividends, 65 companies, or 9.07 percent, omitted dividends, 234 companies, or 32.64 percent were profit making entities, while 104 scrips, or 14.50 percent were loss making.

The highest pay-out was received from mutual funds as 28 entities paid dividends, while on second rung of ladder, 16 companies from fuel and energy sector disbursed dividends.

In 2001, out of 747 companies, 647 companies announced their results, of which 315 companies or 42.17 percent paid dividends, 108 or 14.46 percent omitted dividends, 422 companies or 5649 percent are profit making while 221 or 29.59 percent were in the red.

The stock market saw speedy listing of debt instrument or Terms Finance Certificate (TFC) amounting to Rs 7.905 billion in 2002 up-to November 30.

The prominent among the TFC issuer were Muslim Commercial Bank Limited worth Rs 1.6 billion, Sui Southern Gas Rs 1.250 billion, Engro Chemical Rs 1 billion, Orix Leasing Rs 746.835 million, Engro Chemical Rs 500 million and Saudi Pak Leasing Rs 430 million.

The stock market witnessed issuance of bonus shares worth Rs 3.263 billion as compared with Rs 41.96 billion of 2001, while right shares totalled at Rs 13.113 billion in 2002 as against Rs 1.531 billion of 2001.

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