Attock Petroleum to follow higher dividend trend
1/4/2012 2:56:49 PM
KARACHI: The stock of Attock Petroleum Limited (APL) has outperformed the benchmark KSE-100 Index by 20 percent since the start of new fiscal year FY12 and appreciated by 11.3 percent attributed to strong volumetric growth and attractive dividend payout of Rs 41.5 per share for the previous fiscal year FY11.
APL has a history of announcing interim dividend along with its half yearly results. Hence, there is a possibility of a ‘dividend rally’ in January 2012 as the company is expected to pay an interim cash dividend of Rs 12-14 per share, according to the research note of Arif Habib Limited.
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