KARACHI, July 29: International Industries Limited (INIL), which announced cash dividend, bonus shares and a right issue, dominated the financial results announced by 12 companies on Tuesday.

The INIL declared cash dividend at Rs1.50 (in addition to Re1 already paid), bonus shares at 20 per cent or two for 10 (in addition to interim bonus at 10 per cent already paid) and a right issue at 25 per cent or two for 10 shares at a premium of Rs40 per share.

The stock in International Industries hit the upper circuit, gaining Rs5.12 to close at Rs107.71 at the KSE on Tuesday. The share was among the few to perform against the bearish market trend, which showed KSE-100 index drop by 130 points on concerns about discount rate hike exceeding the already factored in one per cent.

The INIL, which is in the business of manufacturing of GI pipe, steel tubes and pipes, API line pipe and polyethylene line pipes, possibly gained from record rise in prices of steel products. Profit after tax for the year ended June 30 stood at Rs705 million, up from Rs613 million the previous year.

PICIC growth Fund announced on Tuesday cash dividend at Re1 per certificate for the year ended June 30, 2008. That was in spite of posting a loss of Rs599 million in place of a profit at Rs1.8 billion the earlier year.

Siemens Engineering posted profit amounting to Rs1.280 billion for the nine months (Oct-June 2007-08), up from Rs800