FRIDAY, March 29, 2024
nationthailand

PTT to pay dividend of Bt2 per share after 2021 profit surge

PTT to pay dividend of Bt2 per share after 2021 profit surge

PTT approved a dividend payment worth 57.12 billion baht or 2 baht per share on Thursday. The move came after the company recorded a net profit of 108.36 billion baht in 2021, up 70.59 billion baht or over 100 per cent on the 37.76 billion baht in 2020.

Last year’s growth in turnover was due to economic recovery and the company's success in maintaining operations and investment both domestically and overseas, said PTT president and CEO Auttapol Rerkpiboon.

"In this regard, the company has to send over 82.5 billion baht to the government apart from the corporate social responsibility budget of over 1.64 billion baht," he said.

He explained that 31 per cent of total net profit in 2021 came from PTT business operations, while the other 69 per cent was from the company's subsidiaries here and overseas.

He added that as a state enterprise, PTT had launched various schemes to mitigate Covid-19 impacts on people, including an NGV price cap at 15.59 baht per kilo and discounts on LPG for state welfare cardholders.

In the fourth quarter last year alone, PTT's net profit was 27.54 billion baht, up 3.89 billion or 16.5 per cent compared to a net profit of 23.65 billion baht in the third quarter.

The fourth-quarter net profit rose by 14.39 billion or over 100 per cent compared to a net profit of 13.14 billion baht in the previous year, thanks to the rise in earnings before interest, tax, depreciation, and amortisation (EBITDA).

As of December 31, PTT’s total assets stood at 3.07 trillion baht, up 533.83 billion or 21 per cent compared to 2.54 trillion baht in the previous year.

Meanwhile, the company's debt was 1.60 trillion baht, up 346.74 billion baht or 27.6 per cent year on year due to a rise in short- and long-term loans of 154.32 billion baht.

Separately, the company's market capitalisation was 1.47 trillion baht, up 187.09 billion baht (14.6 per cent), thanks to growth in net profit and PTT Oil and Retail Business (OR)’s move to increase capital.

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