The easing of Covid-19 health and safety protocols locally, has allowed for the 7th Annual Meeting (AGM) of the Shareholders of Trinidad and Tobago NGL Limited (‘TTNGL’), to be hosted as an in-person event. This is the first time in two years that shareholders have been able to physically gather to transact the business of the company. TTNGL’s 5th AGM was hosted via a live webcast in 2020 and the 6th AGM followed the same format in 2021.
TTNGL posted a strong performance for the year ended December 2021. Despite another challenging year, the company recorded an after-tax profit of TT$512.8 million, compared to TT$6.4 million in 2020. This translated into earnings per share of TT$3.31, where the figure for 2020 was TT$0.04. This marked improvement was driven by a 366.2% uplift in its share of profit from Phoenix Park Gas Processors (PPGPL), and an impairment reversal of TT$302.1 million, coming out of the 2021 impairment assessment. Based on TTNGL’s 2021 performance, shareholders will have accessed a cumulative dividend of TT$0.75, which is a major improvement over 2020’s TT$0.05 payment.