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KUALA LUMPUR: In light of the unprecedented challenges brought on by the COVID-19 pandemic, the board of Petroliam Nasional Bhd (Petronas) approved an additional dividend payment of RM10 billion to the federal government by the end of November 2020.
The national oil company said it had previously committed to maintaining the scheduled dividend payment of RM24 billion to the government based on its 2019 financial year performance, and confirmed that the company has paid the dividend in full as planned for this year.
“To determine whether this additional dividend is affordable, Petronas’ board first ensured that the company could continue to comfortably finance its operations, pay its debts and meet its obligations, as well as invest in its future growth,” he said today in a release. .
Petronas added that it remained steadfast in its efforts to preserve cash and strengthen its financial resilience during this unprecedented time.
Earlier, the Minister of the Prime Minister’s Department (Economy), Datuk Seri Mustapa Mohamed, said that Petronas will pay 34 billion ringgit in dividends to the federal government this year.
In 2019, Petronas paid the federal government a dividend totaling RM 54 billion, including a special dividend of RM 30 billion. – Bernama
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