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Over 100 companies fail to pay dividend

KARACHI (October 29 2002) : About 100 companies failed to pay any dividend to their shareholders in 2001-02 as compared to last year, the annual report of the State Bank of Pakistan said on Monday.

During 2001-02, 165 companies paid dividend up to 20 percent, bonus shares were issued by 18 companies and right shares by three companies. While the companies paying dividend above 20 percent were 141, bonus shares by 15 companies and 28 right shares. The total worked out to 370 as compared with 468 companies' dividend in the preceding year.

Another development during the year was de-listing of 40 companies, as compared to six during previous year. Out of these 40 companies, 12 were de-listed due to their merger with another company.

Four new companies, with paid up capital of Rs 5.8 billion, were listed on the KSE during FY02.

The trading volume during the year was 29,140 million shares while value of shares traded amounted to 803.8 billion rupees. Average daily turnover was 120.9 million shares, up from 119.5 million shares a year ago, but was down from 1999-2000 of 193.2 million shares.

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