SPRC Announces the Company 2017 Net Income of US$ 261 million (Baht 8,895 million) and Dividend Payment of Baht 1.1427 per share
13 February 2018

     Bangkok – February 13, 2018, Mr. William L. Stone, CEO and Director of Star Petroleum Refining Public Company Limited (“SPRC”) announced the company’s financial and operational performance for the fourth quarter and full year 2017.      

     The net income for Q4/2017 was US$ 78 million (Baht 2,573 million) compared with Q3/2017 of US$ 84 million (Baht 2,819 million) and US$ 79 million (Baht 2,810 million)  for Q4/2016. 

     Total net income in 2017 was US$ 261 million (Baht 8,895 million) compared with 2016 of US$ 245 million (Baht 8,688 million).  Net income was higher mainly from higher market gross refining margin of US$ 7.34/bbl in 2017 compared with US$ 6.68/bbl in 2016.

     SPRC achieved 15.7 million man-hours without days away from work injury since June 2013 as well as continuing to target top of the first quartile performance in reliability and utilization as compared with peers in the Asia Pacific and Indian Ocean region.

     SPRC’s Board of Directors at the meeting No. 1/2018 on 13 February 2018 passed a resolution to propose the dividend payment from the 2017 net profit of Baht 1.1427 per share to the 2018 Annual General Shareholders’ Meeting for approval on 5 April 2018. The dividend of Baht 1.1427 per share represents dividend payout at 60% which is in line with the Company’s dividend policy of at least 50% payout. The Company made an interim dividend payment from the first half of 2017 net profit of  Baht 0.4621 per share and the remaining dividend will be at Baht 0.6806 per share.

     The record date on which shareholders entitled to the dividend payment will be on 18 April 2018. The dividend payment of Baht 0.6806 per share will be paid on 3 May 2018, after obtaining approval from  the 2018 Annual General Shareholders’ Meeting.