TNB Committed to Fair Shareholder Returns

30/06/2020

Tenaga Nasional Berhad (TNB) today held its 30th Annual General Meeting (AGM) at its Headquarters in Jalan Bangsar here, which was conducted virtually for the first time to ensure the safety and health of its shareholders in compliance with the requirements of the Recovery Movement Control Order (RMCO).

“In our continuous efforts to ensure non recurrence of the COVID-19 outbreak, TNB is adapting to the new normal and is very pleased to have this landmark online AGM,” said Dato Seri Mahdzir Khalid in his first meeting as TNB Chairman.

Also participating in the online AGM were President and Chief Executive Officer Datuk Seri Amir Hamzah Azizan, TNB top management and other members.

Mahdzir said the Group’s efficient operations, as well as effective capital management, have been translated into a record high RM5.69 billion in dividend payout.

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 2019. This translates to a dividend payout ratio of 56.0% from the Group’s Adjusted PATAMI, effectively hitting the higher tier of the company’s 30% to 60% dividend policy consistently for the last three financial years.

In addition, the Board of Directors also approved a special dividend of 50 sen per share, bringing the total dividend per share to RM1.00, amounting to RM5.69 billion for this financial year. This marks TNB’s highest dividend payout to date.

“This is the third consecutive year that we have offered a dividend at the higher end of our stated policy of paying between 30% and 60% of our adjusted PATAMI. This is reflective of TNB’s commitment towards discharging its amanah to the people who are the ultimate beneficiaries through our major institutional shareholders,” he said.

As of May 2020, the majority shareholders of TNB comprises Khazanah Nasional Bhd which holds a 25.8 per cent equity, Permodalan Nasional Bhd (PNB) 18.1 per cent, Employees Provident Fund (EPF) 16.7 per cent, Kumpulan Wang Persaraan (KWAP) 6.7 per cent, and other government
agencies like Tabung Haji and Lembaga Tabung Angkatan Tentera own 1.2 per cent.