SNGPL Declares Record 75% Cash Dividend as Shareholders Approve Stellar FY 2023-24 Results

Lahore — In a landmark move, Sui Northern Gas Pipelines Limited (SNGPL) has announced its highest-ever cash dividend of 75% (Rs. 7.50 per share) for the financial year 2023-24, following robust financial performance. The announcement was made during the Company’s 60th Annual General Meeting (AGM), held at Avari Hotel, Lahore.

The Company reported a record profit after tax of Rs. 18.98 billion, a significant jump from Rs. 10.56 billion in the previous fiscal year. Earnings per share (EPS) also surged to Rs. 29.92, compared to Rs. 16.66 last year. The shareholders unanimously approved the audited financial statements and re-appointed M/s. A.F. Ferguson & Co. as external auditors for FY 2024-25.

SNGPL also marked a major operational milestone by reducing its Unaccounted for Gas (UFG) losses from 5.15% to 4.93%, the lowest disallowance level in 18 years. This success was attributed to technological upgrades, proactive field measures, and enhanced monitoring protocols, resulting in gas savings of over 1,269 MMCF.

The AGM featured an interactive session with shareholders, where various suggestions were discussed and addressed to their satisfaction.

The meeting was chaired by Mr. Saadat Ali Khan, with several board members and senior management present both in person and via video link. The Company reaffirmed its commitment to enhancing shareholder value, operational efficiency, and environmental responsibility.