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TNB Remains Steadfast In Delivering Strategic Roadmap

Tenaga Nasional Bhd (TNB) will remain steadfast in delivering its Reimagining TNB strategic roadmap despite disruptions caused by the COVID-19 pandemic, said president and chief executive officer Datuk Seri Amir Hamzah Azizan.

He said the roadmap included efforts to diversify TNB’s generation sources, especially in renewable energy, investing in the national grid, as well as focusing on customers with a suite of products and services that go beyond the sales of electricity.

“Together with our Board of Directors, we have recently strengthened our 10-year strategic roadmap. We have resolved to drive a stronger sustainability agenda through more investments into green energy, both domestically and internationally,” he said in a statement today.

He said TNB would also continue to facilitate the country’s energy transition by enhancing its core infrastructures with digital technology.

Amir Hamzah said the utility company continued to balance its commitment between growing the business for fair shareholder returns and responsibility to customers in this current challenging period.

The company would also continue to work closely with the government to support the people through various initiatives introduced under the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) and Bantuan PRIHATIN Elektrik package.

Meanwhile, TNB chairman Datuk Seri Mahdzir Khalid said the group’s efficient operations, as well as effective capital management, had been translated into a record high dividend payout totalling RM5.69 billion.

The TNB board of directors had approved a final single-tier dividend of 20 sen per share, raising the single-tier dividend total to 50 sen per share for the financial year ended Dec 31, 2019.

This translates to a dividend payout ratio of 56 per cent from the group’s adjusted profit after tax and minority interest, effectively hitting the higher tier of the company’s 30 per cent to 60 per cent dividend policy consistently for the last three financial years.

In addition, the board of directors had also approved a special dividend of 50 sen per share, bringing the total dividend per share to RM1, amounting to RM5.69 billion for this financial year, marking TNB’s highest dividend payout to date. — BERNAMA

BacalahMalaysia Team

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