Petronas announces additional RM25 bln dividend payout to govt

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) today announced an additional RM25 billion dividend payment to the government, bringing a total dividend payout of RM50 billion for 2022.

President/group chief executive officer Datuk Tengku Muhammad Taufik Tengku Aziz said the new dividend was in addition of the RM25 billion dividend that had been approved in February 2022.

"The additional RM25 billion dividend has been approved by the board after having carefully and rigorously assessed the group's affordability to continue funding its operations, service its debt and meeting its obligations as well as invest in future growth," he told reporters after announcing the group's half-year financial performance ended June 30, 2022 here today.

Tengku Muhammad Taufik said the group remained committed to accelerate its approved investments as it needed to future-proof its operations towards energy transition.

He said the total dividend payout of RM50 billion in 2022 was one of the highest payment made by the group, following a total payment of RM54 billion in 2019.

Asked whether the additional dividend payment would impact Petronas, Tengku Muhammad Taufik reiterated that the group would need to spend very prudently but in a profitable manner.

-- BERNAMA