Petronas caps dividends to government at 30%

Petronas caps dividends to government at 30%Petronas, Malaysia’s state-backed energy corporation, has announced a new deal with the government that would have Petronas pay no more than 30% of its profits in dividends the government.  This year, the RM30 billion that Petronas paid was close to 69% of its net profits, and last year they paid about 63%.  The company hopes that this new deal will create “certainty and predictability” for them, according to Vice President of Finance Datuk George Ratilal.

 

Petronas, Malaysia’s state-backed energy corporation, has announced a new deal with the government that would have Petronas pay no more than 30% of its profits in dividends the government.  This year, the RM30 billion that Petronas paid was close to 69% of its net profits, and last year they paid about 63%.  The company hopes that this new deal will create “certainty and predictability” for them, according to Vice President of Finance Datuk George Ratilal.  

Petronas caps dividends to government at 30%Petronas, Malaysia’s state-backed energy corporation, has announced a new deal with the government that would have Petronas pay no more than 30% of its profits in dividends the government.  This year, the RM30 billion that Petronas paid was close to 69% of its net profits, and last year they paid about 63%.  The company hopes that this new deal will create “certainty and predictability” for them, according to Vice President of Finance Datuk George Ratilal.

 

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