TNB posts RM1.24b profit in Q2, 30.27 sen dividend proposed

PETALING JAYA: Tenaga Nasional Bhd (TNB) reported a net profit of RM1.24 billion for the second quarter ended June 30, 2018
Its revenue stood at RM12.5 billion.
The utility giant proposes to declare an interim dividend of 30.27 sen per share amounting to RM1.72 billion for the quarter under review.
TNB said in a filing with the stock exchange that the return for regulated business under the Incentive Based Regulation (IBR) framework that mainly consists of transmission and distribution businesses contributed to 61.9% of the group's net earnings.
The group expects electricity demand growth and FY18 results to remain stable in anticipation of steady economic growth supported mainly by private sector activities.
For the first half of the year, TNB's net profit and revenue were at RM3.36 billion and RM24.77 billion, respectively.
TNB shares closed fell 2 sen or 0.1% lower at RM15.68 with 4.86 million shares traded.