ESSO Announces a THB0.30 Dividend Payout with an XD Date on 2 May

Esso (Thailand) Public Company Limited (SET: ESSO) announced on Monday that its Board of Directors has approved a dividend payment from the operating results for the fiscal year 2022 at the rate of THB0.30 per share.

The Ex-dividend date (XD) is set for 2 May 2023. The payment of the dividend will be made on 22 May 2023.

In 2022, ESSO registered a net profit of THB9,509 million, up THB5,065 million or 114% from a net profit of THB4,444 million in 2021.

Total revenue of 2022 was at THB263,000 million, higher than last year, largely due to higher market selling prices and sales volume. In 2022, profit from sales was THB11,853 million which was THB6,303 million higher than last year as a result of the effort to increase sales volume and stronger industry margins. Compared to last year, netfinance costs increased by THB51 million primarily driven by higher interest rates and higher loan balance.

Full year 2022 Dubai prices averaged $96.3/Bbl, an increase of $27.1/Bbl compared to last year mainly due to demand recovery from overall improved COVID-19 situation, the Russia-Ukraine conflict, and rising oil demand from gas-to-liquid switching as a result of higher natural gas price. However, concerns over bearish sentiment of the global economy had pressured crude prices to be volatile throughout the year.

In tandem with crude prices, all product prices continued to move in upward trend as a result of higher demand from resumed economic activities supported by recovery in global tourism industry as well as gas-to-liquid switching in power generation industry