EGCO Group approves H2/22 dividend payment at 3.25 Baht per share and 30 billion-Baht investment in power and related businesses

News Update

EGCO Group approves H2/22 dividend payment at 3.25 Baht per share and 30 billion-Baht investment in power and related businesses

12 April 2023

At the Shareholders’ 2023 Annual General Meeting through electronic means on 12 April 2023, Electricity Generating Public Company Limited or EGCO Group approved dividend payment for the second half of 2022 at 3.25 baht per share. When combined with already paid interim dividend, the total dividend payment is 6.50 baht per share for 2022. EGCO Group also allocated an investment budget of 30-billion-baht in power business, both conventional and renewable energy, and energy-related businesses. The company also announced No Coal Policy, in which it will not make additional investment in coal power plant or coal mining in order to achieve carbon neutral target by 2050.

Mr. Thepparat Theppitak, EGCO Group’s President, said that EGCO Group has capability to consistently pay dividend because of its solid business fundamentals based on diversified investment portfolio, high liquidity, and strong cash flow. The recent AGM, therefore, approved dividend payment for the second half of 2022 at 3.25 baht per share, or a total of 1,711 million baht. When combined all dividends from 2022 operating performance, EGCO Group has paid a total of 6.50 baht per share, totaling 3,422 million baht. The Company will pay the second half of 2022 dividend on 24 April 2023.

“Our future investment plan will be based on our goal to become carbon neutral by 2050. To achieve this target, EGCO Group has continuously seek investment opportunities in electricity generation business, which is our core business, both domestic and oversea markets, and in conventional and clean energy area. To support energy transition, we focus on gas-fired power plant investments, and will not make a new investment in coal-fired power plants or any coal-related businesses. At the same time, we have concentrated on efficiency optimization of our existing power plants and minimizing emission. EGCO Group is studying opportunities to use hydrogen and ammonia as a co-fueling, as well as the carbon capture, utilization, and storage (CCUS) technology for carbon reduction. We also focus on building a comprehensive energy ecosystem by expanding investments in energy-related businesses. These actions will enable us to become the true leader in sustainable energy business. For 2023, we have allocated 30-billion-baht budget to support such the investment plan,” stated Mr. Thepparat.

For the Yunlin offshore wind farm project in Taiwan, which has been delayed and caused higher construction cost, EGCO Group, as one of the shareholders, has closely worked with other partners in studying the impacts, and analyzing and assessing risks and possibilities in various situations in order to find the best possible solutions. The Company also closely monitors the project progress and jointly adjusts the construction plan to assure that the project will be completed by 2024 as scheduled.
About EGCO Group
EGCO Group currently has a total equity capacity of 6,202 MWe (including both power plants that already started commercial operations, and projects under construction). Total equity capacity from renewable energy is as high as 1,248 MWe, which includes biomass, hydropower, solar power, wind power, and fuel cells. These power plants and its other projects are located in eight countries, namely Thailand, Lao PDR, Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition, its energy-related businesses include the Extension of Petroleum Pipeline System in Northeastern Project (“TPN”), “EGCO Rayong” Industrial Estate Development Project, the license to source and supply natural gas in Thailand, financial technology company (“Peer Power”), innovation research and development company (“INNOPOWER”). For more information about EGCO Group, please visit our website at and our
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