Petronas Gas announces special dividend


  • Energy
  • Thursday, 20 Aug 2020

The company attributed its improved earnings to higher unrealised foreign exchange gain and higher share of profit from a joint venture in addition to improved gross profit.

PETALING JAYA: Petronas Gas Bhd (PetGas), which posted strong earnings in the second quarter (Q2) ended June 30,2020, declared dividends of 66 sen per share, or a total of RM1.3bil.

This would be broken down to a second interim dividend of 16 sen per share and a special interim dividend of 50 sen per share for the period in review.

PetGas’ net profit rose 8.8% to RM547.1mil in Q2 from RM502.9mil in the same quarter a year ago, thus raising its earnings per share to 27.65 sen from 25.42 sen previously.

The company attributed its improved earnings to higher unrealised foreign exchange gain and higher share of profit from a joint venture in addition to improved gross profit.

For the period in review, its revenue grew a marginal 1.42% year-on-year (y-o-y) to RM1.4bil. It said this was mainly contributed by higher revenue from regasification segment in line with new tariffs for Regulatory Period 1 effective Jan 1,2020, offset by lower revenue from utilities segment as a result of lower electricity sales volume.

For the six-month period, PetGas’s net profit fell 10.1% y-o-y to RM915.2mil, while revenue rose 1.8% y-o-y to RM2.8bil.

The company’s shares closed unchanged at RM16.38 yesterday.

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