PTTGC Approves a Dividend Payment of THB0.75; XD Date on Sep 2

PTT Global Chemical Public Company Limited (SET: PTTGC) announced on Monday that its Board of Directors has approved an interim dividend payment from the first half of 2022 operational results (Jan 1 – June 30) at the rate of THB0.75 per share.

The Ex-dividend date (XD) is set for 2 September 2022. The payment of the interim dividend will be made on 21 September 2022.

PTTGC reported a net profit of THB1,388 million in 2Q22, decreased 94.45% from a net profit of THB25,034 million in 2Q21.

The company had total sales revenue of THB196,397 million, an increase of 76% from 2Q21. The revenue has grown continuously supported by the rise of petroleum products tracking with crude oil prices and the demand recovery from easing of COVID-19 lockdown restrictions.

In terms of sales volume, in this quarter, the company’s sales volume decreased mainly from planned maintenance shutdown of Olefins 3 plant and Aromatics 1 plant, including LDPE and LLDPE. However, the company had adjusted EBITDA of THB21,029 million in this quarter, increased from 2Q21 by 29%.

Loss from commodity hedging of THB12,734 million as the product spread was higher compared to the hedged prices of the commodity hedging which consists of realized loss of THB11,598 million and unrealized loss of THB1,136 million.

Additionally, the company had foreign exchange loss in 2Q22 by THB4,378 million due to the depreciation in THB currency.