IVL Offers THB0.40 Dividend Payout after Reporting Strong 3Q22 Performance

Indorama Ventures Public Company Limited (SET: IVL) has announced that the company will offer a cash dividend payment of THB0.40 per share from the operating period from 1 July 2022 to 30 September 2022. The dividend will be paid on 15 December 2022 and the ex-dividend date will be on 29 November 2022.

Last week, the Bangkok-based chemical industry powerhouse IVL reported a better-than-expected 3Q22 earnings, thanks to strength in US dollar, while maintaining constant demand and volumes throughout the year.

In 3Q22, IVL achieved a net profit of THB8,137 million, up 24.27% from the same period last year, while core EBITDA was at US$ 606 million, an increase of 39% YoY and decline of 20% QoQ.

In its financial statements for the third quarter ended September, IVL stated that the year 2022 has been shaped by a number of unprecedented macroeconomic factors. In the last 18 months, the company has seen very strong movements of Brent crude oil, strengthening of the US dollar, hyperinflation and supply chain disruptions, all peaking in 2Q22.

As a result, IVL had an exceptionally strong second quarter which has started normalizing in 3Q22. The Ukraine crisis brought more upheaval in the form of volatile energy prices, predominantly in Europe, while China’s zero-COVID policy resulted in dramatically reduced consumption that impacted markets globally.