PSO declares interim dividend

KARACHI—Pakistan State Oil (PSO) has declared a cash dividend of Rs 5 per share after posting after earning a sales revenue of Rs 122 billion. This announcement came following the meeting of board of management which reviewed performance of the first quarter of 2007-08 ending September 2007. Pervaiz Kausar, chairman BOM presided over the meeting. The board observed that the quarter saw an all-time high crude prices and the rising trend is still continued. This oil price increase had a positive impact on company’s results through inventory gains in contrast to same period last year when the company suffered due to significant inventory losses. The overall market share of PSO was 71.7 percent during the quarter which is the highest-ever for last seven years. After tax earnings for the quarter were Rs 2.103 billion versus Rs 567 million in the comparative period.—Onlineith the help of three accomplices, police alleged. Police registered a case against Muhammad Hussain and three others.—Agencies