Banpu Power Announces Interim Dividend Payment of First Half of 2019 Exhibiting Strong Cash Flow and Continuous Growth in Strategic Countries
Banpu Power Public Company Limited (BPP), a leading power-generating company operating both thermal and renewable power business across the Asia-Pacific region, has announced the Board of Director’s resolutions for the payment of interim dividend from the net profits of the 6 month period from operational performance ended 30 June 2019. The dividend would be paid for the total eligible shares at the rate of 0.35 baht per share. The dividend is appropriated from the profit subject to corporate income tax–exemption on which shareholders are not entitled to tax credits. The Company has scheduled the date to determine the entitlement of shareholders to receive the interim dividend (Record Date) on 13 September 2019 and scheduled the payment date of the interim dividend on 25 September 2019.
Mr. Sutee Sukruan, Chief Executive Officer of Banpu Power Public Company Limited, revealed, “Banpu Power has strived for continuous growth and stability of the business by managing the investment portfolio in the countries that have potential, yielding stable returns to the shareholders. The latest rate of interim dividend payment increased year-on-year, reflecting the Company’s returns and strong cash flow which are the result of the effective operational management. Currently, Banpu Power has a total operational capacity of 2,170 MWe from both the thermal and renewable power plants. Meanwhile, we continuously develop the projects in the pipeline to achieve the scheduled COD and are always on the lookout for new investment opportunities.”
With over two decades of experience as one of pioneering Thai investors in the power business in Asia, Banpu Power has extended growth in the strategic countries with high growth in energy industry, namely China, Japan, and Vietnam, in alignment with our Greener & Smarter Strategy. In China, Banpu Power is the only power investor from Thailand, who is able to continuously develop and expand capacity. The latest achievement is our investment in Jixin solar power plant that has reached its COD, resulting in the current total equity committed capacity of 177 MW from the solar power plants in China. In Japan, our solar power generation currently has the total equity committed capacity of 233 MW which includes 37-MW operating capacity, and 196-MW projects under development and scheduled for COD by 2023. The wind power plant project in Vietnam with the total equity committed capacity of 80 MW is progressing as planned. Its 30-MW Phase 1 is currently in the stage of contractor selection, and the construction is expected to be completed to reach COD within 2020.
“From today to 2023, we have 2,894-MWe equity committed capacity, of which 17 percent is from renewables, and will consider further power investment to achieve a 4,300-MWe goal with over 20 percent renewable portfolio by 2025. With our strong cash-flow management, the synergy in Banpu group that contributes to greater capability in our power generation, and the viable investment in the countries of high favorable investment factors that we have profound experiences, we believe that Banpu Power is striding to yield stable returns to the stakeholders as we have committed, and to be in line with a balancing concept between global energy trend and strategic direction and growth of Asia-Pacific region,” Mr. Sutee concluded.
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About Banpu Power
Banpu Power Public Company Limited operates both thermal and renewable power businesses across Asia-Pacific, including in Thailand, Lao PDR, China, Japan, and Vietnam. For more than two decades, Banpu Power has been committed to operational excellence to achieve efficient power generation while deploying High-Efficiency, Low-Emissions (HELE) technologies which are safe and environmentally sound in order to become a sustainable regional leader in power generation business. As of 30 June 2019, Banpu Power’s assets totaled THB 50,249 million.