PHDL Announces Massive Share Dividend For FY25 Following Regent Plaza Sale

The Board of Directors of Pakistan Hotels Developers Limited (PSX: PHDL) in their meeting held on July 8, 2024, recommended an Interim Cash Dividend for the year ending June 30, 2025, at Rs. 725 per share i.e. 7250 percent. “This is in addition to Interim Cash Dividend already paid at Rs.NIL per share i.e. NIL%,” PHDL said in a notice to the main bourse on Tuesday. The above dividend amount is paid from the sale proceeds received from the buyer of Regent Plaza Hotel (Property). It will be paid to those shareholders whose names will appear on the register of members of the company on July 15, 2024. The share transfer books of the company shall remain closed from July 16, 2024, to July 18, 2024 (both days inclusive). PHDL last week announced that physical possession of the company property i.e. Regent Plaza Hotel has been handed over to SIUT Trust (the buyer). The physical possession of the property was handed over to SIUT Trust pursuant to a 90 percent payment of the sale value of the property on July 01, 2024.