TNB announces highest dividend in four years, emphasises nation-building efforts
KUALA LUMPUR, May 23 — Tenaga Nasional Berhad (TNB) announced its highest dividend in four years at 51 sen per share, totalling over RM2.96 billion, while reaffirming its commitment to creating long-term value through sound financial management, operational strength, and community investments that benefit both shareholders and the nation.
According to a statement by TNB, the company's commitment to nation-building went beyond financial returns. Through targeted programmes in education, community development and wellbeing, the company channelled long-term investments into meaningful outcomes.
The statement said TNB's initiatives aimed to uplift underserved communities, bridge opportunity gaps, and foster social cohesion, while through scholarships, educational programmes, and rural outreach, the company empowered future generations and drove long-term impact.
'These efforts underscored its commitment to shared prosperity and nation-building beyond its core utility role, and it was also implementing Phase II of its Village Street Lighting Programme, installing over 14,000 energy-efficient LED streetlights in rural areas to enhance safety, connectivity, and economic inclusion,' the statement said.
It added that the dividend payout aligned with TNB's 60 per cent dividend policy and benefited millions of Malaysians, as over 60 per cent of its shares were held by major Government-Linked Investment Companies (GLICs), including Permodalan Nasional Berhad (PNB), the Employees Provident Fund (EPF), Khazanah Nasional Berhad, Kumpulan Wang Persaraan (KWAP), and Lembaga Tabung Haji (LTH).
In 2024, TNB contributed RM874.7 million in tax and zakat, strengthening public finances and supporting nationwide community wellbeing. Beyond financial performance, the company allocated RM140.9 million for contributions and sponsorships in education, sport, community development, and environmental initiatives.
TNB added that its strong performance had benefited from favourable macroeconomic conditions, including a strengthening ringgit and 5.1 per cent of national gross domestic product (GDP) growth and its performance demonstrated eight years of consistently maintaining dividend payouts at the higher end of its 30-60 policy range.
Highlighting Malaysia's record-high approved investments of RM378.5 billion in 2024, as reported by the Investment, Trade and Industry Ministry (MITI), TNB said this had translated into stronger industrial and commercial electricity demand.
TNB noted these achievements reflected not only its operational excellence but also aligned with national aspirations to deliver reliable infrastructure, promote inclusive growth, and accelerate the energy transition under the Ekonomi MADANI framework.
In 2024, TNB invested RM11.2 billion in capital expenditure to accelerate grid modernisation and support the national energy transition, including key upgrades facilitating renewable energy integration and strengthening network resilience across Peninsular Malaysia.
TNB said the company maintained an 87 per cent Customer Satisfaction Index score through improved service quality, while its MSCI ESG rating upgrade to 'A' demonstrated sustainability leadership through reduced emissions, improved water efficiency, and expanded renewable energy adoption – all of which strengthened investor confidence.
At the company's 35th Annual General Meeting held at Pusat Konvensyen Leo Moggie here, TNB Chairman Tan Sri Abdul Razak Abdul Majid said the dividend payout reflected TNB's commitment to delivering consistent and sustainable returns to shareholders.
'These distributions ultimately reach millions of Malaysians, reinforcing national savings, retirement security and broad-based financial wellbeing,' he said.
Meanwhile, TNB president/chief executive officer Datuk Megat Jalaluddin Megat Hassan reaffirmed the company's focus on sustaining stable returns while investing in systems and communities that support national development.
'Our strategy is clear, we aim to maintain robust performance while generating long-term value for the rakyat through responsible returns and meaningful impact. By strengthening the reliability of our services, managing costs effectively, and anchoring our efforts in nation-building, we continue to deliver steady value even amid global uncertainties,' he said. — Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 hours ago
- The Star
PETRONAS to explore sale of Canadian business
A transaction could value the Canadian business at US$6bil to US$7bil. — Bloomberg KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) is considering options for its Canadian company formerly known as Progress Energy Resources Corp, including a sale, according to people familiar with the matter. PETRONAS is working with a financial adviser on a potential disposal, the people said, asking not to be identified because the deliberations are private. A transaction could value the Canadian business at US$6bil to US$7bil, they said. PETRONAS may also consider selling a minority stake in the business, depending on valuation, the people said. The company has started sounding out preliminary interest from prospective buyers, they said. Considerations are ongoing and no final decisions have been made, they added. A representative for PETRONAS couldn't immediately respond to a request seeking comment. PETRONAS bought Progress Energy for about US$5.3bil in 2012, boosting the Kuala Lumpur-based firm's shale-gas assets and gas supplies. PETRONAS also holds a 25% stake in the LNG Canada project, a joint venture for liquefied natural gas in which Shell Plc, PetroChina Co Ltd, Mitsubishi Corp and Korea Gas Corp also participate. Lower oil prices have hit PETRONAS, which reported a slide of more than 30% in net income in 2024 and announced job cuts that will start taking place this year. PETRONAS Canada operates in the North Montney basin in northeast British Columbia and, together with joint venture partners, owns more than 800,000 gross acres of mineral rights with 53 trillion cubic feet of reserves and contingent resources, its website shows. — Bloomberg
Free Malaysia Today
4 hours ago
- Free Malaysia Today
Govt to set up special task force to address financial irregularities
Prime Minister Anwar Ibrahim said the decision to set up the task force was made during the special Cabinet committee on national governance meeting today. (Facebook pic) PETALING JAYA : The government will be establishing a special task force to address financial irregularities, Prime Minister Anwar Ibrahim announced today. Anwar, who is also finance minister, said the decision to set up the task force was made during the special Cabinet committee on national governance meeting today. 'As part of efforts to strengthen the role of the national audit department through amendments to the Audit Act 1957, the meeting agreed to establish a task force to address serious irregularities,' he said in a Facebook post. During the meeting, he stressed the importance of addressing audit findings related to financial irregularities that could undermine the country's fiscal management. He said the new task force will ensure that follow-up actions are more holistic, targeted and have high impact, in keeping with the principles of accountability, transparency and integrity. Last month, Auditor-General Wan Suraya Wan Radzi said the amended Audit Act, which came into force last year, empowers the department to conduct audits on 1,856 GLCs. She was quoted as saying the amendment expands the department's scope, thereby strengthening the government's oversight of governance and financial management within GLCs. The changes include the expansion of the auditor-general's powers to include audits of entities receiving government financial guarantees, by introducing the 'follow the public money' audit approach. Wan Suraya said, moving forward, all GLCs would be held accountable for any irregularities identified in the auditor-general's report. She highlighted that the committee responsible for following up on actions taken based on the auditor-general's report had uncovered several instances of leakages in state and federal financial statements, which are now in the process of being recovered. She added that beyond the recovery of public funds, the audit process aims to determine whether serious irregularities, governance lapses or systemic failures have occurred.
Free Malaysia Today
4 hours ago
- Free Malaysia Today
Professionals, firms used to hide money trail in highway project, says MACC
MACC chief commissioner Azam Baki said the corporate figure with a 'Tan Sri' title involved has yet to be questioned as he is still warded at a private hospital. PETALING JAYA : The Malaysian Anti-Corruption Commission (MACC) revealed that the misappropriation of sukuk funds for a Klang Valley highway project involved professionals and multiple companies to obscure the flow of funds. MACC chief commissioner Azam Baki said the professionals involved included auditors, financial experts, as well as engineers, Utusan Malaysia reported. He also said the corporate figure with a 'Tan Sri' title involved has yet to be questioned as he is still warded at a private hospital. 'Today, investigators obtained a medical assessment from the attending doctor to verify the Tan Sri's condition before we can proceed to record his statement. 'In the meantime, 45 individuals who previously gave statements have been called back to provide further information,' he said. Azam added that the investigation team is also tracking down luxury vehicles and properties belonging to the Tan Sri in London and Switzerland. He said investigations now focus on the actual value of luxury alcoholic beverages in the Tan Sri's possession, amid suspicions that some of the misappropriated funds may have been transferred to other accounts. 'At the same time, a notice for asset declaration has been issued to the Tan Sri and other relevant parties,' he added. To date, the seized assets include 14 individual bank accounts totalling RM4.5 million, eight company accounts totalling RM33 million, a luxury condominium and a plot of land valued at RM24.5 million, as well as nine vehicles worth RM7.65 million. Azam said 13 more vehicles have yet to be handed over to investigators. Also seized were luxury watches worth around RM25 million, designer handbags valued at RM3 million, jewellery and diamonds worth RM6 million, and four horses valued at RM400,000. 'RM3 million worth of alcoholic beverages, overseas assets valued at over RM15 million, and gambling activities estimated at around RM20 million are also under investigation. 'Investigations are also focussing on RM12 million in bribes allegedly paid to certain parties to facilitate the movement of funds out and back into the suspect's possession,' he said. Previously, Azam said that the anti-graft agency was investigating three cases of alleged bribery and false claims connected to the Maju Expressway Extension (MEX II). He said the first investigation paper involves false claims amounting to RM361 million which came from sukuk funds, while the second case concerns false disclosures involving RM416 million in sukuk funds and RM50 million in bank loans. The third case involves certain parties who allegedly solicited and received around RM12 million in bribes.
