“GPSC” is confident on its 2016 performance to be continuous growth from 21% increase in net profit in 2015 due to the electricity and steam selling to more clients of PTT Group including the revenue recognition of IRPC-CP Phase 1 (full year) and profit sharing of Nava Nakorn power plant which is scheduled to COD this June. The company’s four-year plan targets a 10% growth in production capacity.
Dr. Toemchai Bunnag, President of Global Power Synergy Public Company Limited or GPSC, an electricity and utility producer flagship of PTT group said that the business performance of GPSC in 2016 will see continuous growth from 2015, due to the increasing number of clients of PTT Group and the increase in revenue from electricity and steam sales of the IRPC Clean Power (IRPC-CP), which started its commercial operation date (COD) for its first phase in the fourth quarter of 2015 and Nava Nakorn power plant, which is expected to start its commercial operation date (COD) this June. The company is confident on its stability and performance as of long term contract based clients such as EGAT and industrial clients with no impact from the recent unstable economic situation.
Apart from that, the company has strong financial status with the capability of generating approximately 3 billion baht of cash flow from its operations each year and around 10 billion baht raised from last year’s initial public offering (IPO) together with the capability to seek 8 billion baht in long term loans in order to support its dividend payout policy to the shareholders and the future growth as planned.
In 2015, the company saw a 21% year-on-year growth in net profit, in which the board of directors approved a full-year dividend payout at a rate of 0.95 baht per share, with a dividend payout ratio of 75% or dividend yield of over 4%. For the first half of 2015, the company paid an interim dividend of 0.35 baht per share, and will pay dividends for the second half of the year at a rate of 0.60 baht per share. The company has scheduled February 24 as its ex-dividend (XD) date, and its Record Date on February 26. The dividend will be paid on April 12, 2016 following approval from the 2016 annual general meeting of shareholders which will be held on April 4, 2016.