Pakistan Stock Exchange on Monday announced the recipients of top 25 companies awards for the year 2019 which was full of events and developments; some positive and some challenging.
As per tradition, the criteria for selecting such companies was also updated and upgraded in 2019 in line with the evolving business environment and requirements, said PSX release.
The awards winning top performing companies are ranked according to their performance:
1. Fauji Fertilizer Company Limited (2) Nestle Pakistan Limited (3) Lucky Cement Limited (4) Habib Bank Limited (5) Archroma Pakistan Limited (6) Engro Fertilizers Limited (7) Security Papers Limited (8) Bank AL Habib Limited (9) United Bank Limited (10) Colgate – Palmolive (Pakistan) Limited (11) Mari Petroleum Company Limited (12) Attock Petroleum Limited (13)Dawood Hercules Corporation Limited (14) Pakistan Oilfields Limited (15) Bata Pakistan Limited (16) International Industries Limited (17) MCB Bank Limited (18) International Steels Limited (19) Millat Tractors Limited (20) Agri autos Industries Limited (21) Engro Corporation Limited (22) EFU General Insurance Limited (23) ZIL Limited (24) AGP Limited (25) Gadoon Textile Mills Limited.
In the challenging economic environment facing the country in the backdrop of the coronavirus pandemic, the recognition of these companies by Pakistan Stock Exchange will not only bring them the attention of local and foreign investors, analysts and portfolio managers but will cast a positive light on Pakistan’s business, economic and financial sectors, locally as well as globally.
For the year mentioned, pre-requisites included a minimum distribution of 30 percent (including at least 15% cash dividend), shares traded 50% of the total trading days during the year, and that the company is not in the defaulters’ segment of the exchange or trading in its shares have not been suspended on account of violation of Listing Companies and Securities Regulations of the exchange during the said year.
The Top 25 companies award is a tradition at Pakistan Stock Exchange which goes back to 1978.
Historically, the best performing listed companies in Pakistan are awarded this distinction. The companies which have outperformed others in the spheres of corporate governance, financial performance, and have added to shareholder value based on specific quantitative criteria, amongst other factors, make it to the Top 25 Companies List.
This award takes into account the excellent performance metrics of such companies and recognizes the able guidance of their boards and strong management. By awarding and recognizing such role models, Pakistan Stock Exchange seeks to promote more such listed companies to come to the fore and make their rightful claim on the award by virtue of their excellent performance and contribution to Pakistan’s economy.
On the announcement of the Top 25 Companies Awards recipients, PSX’s Managing Director and CEO, Farrukh H. Khan said “Top 25 Companies Award was the most prestigious recognition of overall corporate performance in the country.