Companies & Finance

Petronas pays higher dividend to Malaysia

Petronas has increased the dividend it pays to the Malaysian government after its profits surged in Q3
By Staff reporter 27 November 2018 0 33465

Petronas has increased the dividend it pays to the Malaysian government after its profits surged in Q3, according to Reuters.

Higher and more stable oil prices have helped boost the company’s balance sheet even though supply disruptions have recently hit its LNG sales.

Profits for July-September rose from MYR 10 billion in Q3 2017 ($2.4 billion) to MYR 14.3 billion in Q3 2018. This has enabled Petronas to pay an extra MYR 2 billion to the government on top of the...