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Reasons to Work at PTT
Mr. Tevin Vongvanich, Chief Executive Office of PTT Public Company Limited, revealed that PTT’s BOD approved Baht16 dividend payout for 2016. However, the 1H 2016 dividend payout had already been made at Baht6 per share; therefore, the 2H 2016 dividend of Baht10 per share will be made which equivalent to the dividend payout ratio of about 49% of net profits and the dividend yield at 4.3%. In 2016 PTT paid dividend over THB 23,000 million to the Ministry of Finance, the major shareholder of PTT, with the proportion of 51.11%. The approval of PTT dividend payout reflects the company’s sustainable growth in dividend payout which does not have any negative effects toward PTT’s long-term business expansion and financial structure. Thus, the ‘XD’ sign or Exclude Dividend is expected to be on March 29, 2017, and the dividend payment is expected to be on May 15, 2017.
Besides, PTT’s Board of Directors approved the restructuring of PTT consisting of:
1) A transfer of the oil business unit, the assets and liabilities of such business unit, and the shares of companies related to the oil business unit from PTT to PTT Oil and Retail Business Company Limited (“PTTOR”). The transfer price shall be THB 121,953 million which deems reasonable from an opinion of the Independent Financial Advisor, who is in the approved list of the SEC. In case the business transfer occurs after 1 July 2017, such price will be adjusted by change in the fair market value of net assets as at the transfer date.
2) The initial public offering of ordinary shares of PTTOR (IPO) and the listing of PTTOR in the SET which includes the offering of ordinary shares to PTT’s existing shareholders who have the rights to subscribe for such allocated shares. However, PTTOR will not offer such shares to shareholders who will cause PTTOR to be subject to rules and regulations of foreign countries (Preferential Share Offering). The Preferential Share Offering will not be higher than 5% of PTTOR’s total ordinary shares being offered at IPO.
In this regard, PTT has a policy to maintain its minimum shareholding in PTTOR to be no less than 45% of PTTOR’s total paid-up capital, while PTT and government agencies will hold less than 50% of PTTOR’s total paid-up capital after the offering of PTTOR’s shares and its listing in the SET. Furthermore, PTT would pay relevant taxes to the authority incurred from the business transfer to PTTOR and sales of PTTOR’s existing shares currently held by PTT to the public.
PTT will prepare the proposal for the restructuring of PTT and propose to the shareholders’ meeting of PTT to consider and approve the transaction by the end of April, 2017.
The campaign will provide support and convenience to the public through drinking water services at PTT gas stations nationwide.
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In the "Free Energy"