Lahore Stock Exchange Becomes The First Exchange Of The Country That Declared Cash Dividend After Demutualization

The Board of Directors of Lahore Stock Exchange Ltd. (LSE) in its meeting has declared an Interim Cash Dividend for the second quarter ended December 31, 2012 @ Rs. 0.25 per share i.e. 2.5%. The book closure for this entitlement shall be announced separately. In this way, an amount of Rs. 32,071,050/- shall be distributed to the shareholders of the Exchange holding 128,284,200 ordinary shares of LSE. It is pertinent to note that the total Income of the Exchange after tax for the period from July to December 2012 was Rs. 33,534,000/-.
In this manner LSE has taken a lead to become the first Exchange of the country that declared a cash dividend after demutualization, whereby it was converted in to a public company limited by shares on August 27, 2012. This announcement will give a positive signal to the capital market and shall also strengthen the position the Exchange to attract the strategic investor for the sale of its 40% equity as per requirement of the Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012, the communiqué added.