Petronas ups dividend payout to Putrajaya to RM24bil this year

Bernama pic.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has revised its dividend payment to the government this year to RM24 billion from RM19 billion earlier in March.

President and group chief executive officer Wan Zulkiflee Wan Ariffin said the increase was backed by improved oil prices and group earnings.

“In the first half of 2018, Petronas recorded RM117.2 billion in revenue, up 8%, from RM108.1 billion recorded in the same period in 2017.

“This was driven by the group’s continued focus on operational excellence and execution of its business improvement initiative, supported by higher commodity prices and improved margins,” he told a press conference on the company’s 2018 half-year financial results today.

In 2017, Petronas’ dividend payout to the government amounted to RM16 billion.