The company’s board of director agreed to pay an interim dividend of Bt 0.45 per share on the declaration date (XD-date) on August 25, 2017, which would be ready to pay all shareholders on September 11, 2017. The dividend, total Bt 674.24 million, has accounts for 43% of consolidated net income.
Dr. Toemchai Bunnag, President and Chief Executive Officer (CEO) of Global Power Synergy Public Company or GPSC, a power and utility flagship of PTT Group, said the company approved to pay an interim dividend of Bt 0.45 per share, accounting for Bt 674.24 million, or around 43% of consolidated net income, which will be paid from the unappropriated retained earnings that derived from tax exemption profit portion according to Board of Investment (BOI) privilege wherein individual shareholders shall not include as taxable income and not be entitled to a dividend tax credit in the computation of tax under Section 47 bis of the Revenue Code.
The shareholders right to receive dividend shall be determined in accordance with the record date as of August 29, 2017 and share registration closing will be on August 30, 2017, with the dividend payment date on September 11, 2017
The dividend payment has reflected the company’s strong fundamental growth performance, which continue to grow further in the future. Moreover, the company is going on with its plan to increase efficiency as well as continue the constructions of new 2 projects in order to start commercial operation date (COD) as planned. These 2 projects are the IRPC Clean Power Plant (Phase 2) and the Ichinoseki Solar Power Plant in Japan that are due to start booking revenue in Q4/2017. Those projects support to generate sustainable revenue for the company with their sustainable power generating capacity.
Besides, there are other projects that are due to start COD in 2018 and 2019, which the company has insisted to focus on maintaining our strategy to create added value on power business with new technologies and innovation of energy storage system (ESS) to strengthen power system for Thailand and other countries.