Electricity Generating Public Company Limited or EGCO Group announced interim dividend payment of 3.25 baht per share from its performance in the first half of 2022, reiterating its commitment to investors and regular dividend payment, which also reflects its solid business foundation and healthy cash flow.
Mr. Thepparat Theppitak, EGCO Group’s President, revealed that to confirm the company’s commitment to regular dividend payment policy, the company’s Board of Directors met on 26 August 2022 and resolved to pay interim dividend for the first half of 2022 at 3.25 baht per share, which is similar to the same period last year. The total interim dividends amount to 1,711 million baht. The record date is set on 12 September 2022 and the dividend will be paid on 23 September 2022.
The company’s ability to pay interim dividend is contributed by its outstanding operating performance in the first six months of this year. EGCO Group has efficiently managed its fuel cost and cash flow, despite many challenges from fluctuations in fuel price and foreign exchange rate. In the first six months of 2022, the company posted 28,659 million baht gross income, an increase of 52% year on year. Operating profit was 7,391 million baht, an increase of 53%, while net profit was 3,339 million baht, 59% increase from the same period last year.
“EGCO Group strongly commits to our policy to regularly pay dividend. Based on our strong energy business and constant growth, we will continue to sustainably create value for investors. The company has endlessly sought new opportunity to make new investment in power business in Thailand and overseas. The company will invest more in related upstream and downstream businesses. Looking at the second half of this year, it is expected that the operating profit would increase due to income recognition of the “Nam Theun 1” hydropower plant in Lao PDR which has already begun commercial operation, and the Extension of Petroleum Pipeline System in Northeastern project “TPN” which will soon start its operations,” said Mr. Thepparat.