The board of publicly listed TTNGL on Saturday announced that it intends to provide shareholders with the option to receive dividend payment in either US dollars or TT dollars.
In a notice to shareholders published in today's T&T Guardian, TTNGL said the payment of dividends in US dollars would be subject to "applicable regulatory requirements."
TTNGL said a dividend currency mandate form will be mailed to all shareholder for completion and submission to their brokers. "Shareholders are encouraged to complete and return the form, indicating their preferred currency option, at their earliest convenience to facilitate timely processing of dividend payments," according to the TTNGL notice. The notice advised that the mandate form is available on the company's website at www.ngl.co.tt and may be downloaded and submitted in accordance with the provided instructions. TTNGL noted that where no completed mandate is received, the dividend payments will be made in TT dollars, via the method currently on record. On April 9, TTNGL advised that, based on the unadited financial results for the three months ended March 31, the company decided to declare a special dividend of TT$1 to share holders on the register as of April 24. That dividend was initially scheduled to be paid on May 13, 2026, but in a separate notice to shareholders published on Saturday, TTNGL said the dividend payment had been deferred to May 29, "to allow shareholders sufficient time to select their preferred currency option for dividend and ensure that the company has a robus and cost effective mechanism in place to facilitate these payments." In a notice issued on April 30, TTNGL advised of a delay in the publication of its unaudited interim financial statements for the three months ended March 31, 2026. "This is due to ongoing audit work related to the financial statements for the year ended December 31, 2025 at TTNGL's underlying asset, Phoenix Park Gas Processors Ltd," TTNGL said.
