HUBCO

Hubco acquires 9.5% stake in SECMC – country’s top coal-rich mine

Separately, KAPCO plans to acquire 49.5MW wind power project in Sindh

Move comes after delay in payments constrained company’s cash flow

Wants Sindh government to execute Left Bank Outfall Drain scheme for provision of water

Hub Power Company Limited plans to issue right shares to existing shareholders

Earnings improve due to drop in operating cost, lower tax on profit

Increase comes on the back of low operating costs, taxes

Power plant is being set up at a cost of $498.3m; expected to start production by June 2021

Sindh Chief Minister Syed Murad Ali Shah reiterated on Monday his commitment to resolve water issues

Board of directors recommends final cash dividend of Rs2.8 per share

Will undertake garbage recycling, water desalination projects

Company gets shares from Dawood Hercules, Cyan Limited at Rs106.50 per share

Board recommends interim cash dividend of Rs1.5 per share

Will buy 182.58 million shares at Rs106.50 per share

Eight plants had earlier been shut down on prime minister’s orders

Power producer makes profit of Rs2.54b, down 4%

100% debt financing used for purchase of the stake

Consortium signed documents on Tuesday; financial close set for Dec

Project to provide energy for 4 million households

Company earns Rs11.34b, declares Rs2.5 per share final dividend

Board recommends interim cash dividend of Rs2 per share

With Chinese assistance, plant will generate 1,320MW of electricity

Objective is to build ‘strategic alliance instead of attracting equity’, says CEO

Earnings per share slipped to Rs4.38 during July-December, down 4%

Benchmark index gained 1.2%, surpassed 50,000 but slid on last day due to profit-taking

Enhanced stake is estimated to help firm earn higher revenues

Earlier, govt had permitted construction of only one power unit

Coal-fired plant will be set up in Thar; company’s share price increased 2.2% on Tuesday

Earnings down 2% from last year due to squeezed turnover

Improves 4% YoY compared to Rs12b in previous year, cash dividend announced at Rs3 per share

Seeks approval of PPIB for the $500m mine-mouth project

The HUBCO Board of directors (BoD) also recommended an interim cash dividend at Rs3.5/share

Company announces interim cash dividend of Rs4.5 per share

Earnings stand at Rs9.8b, dividend of Rs5.5 per share also announced