Share­hold­ers of ma­jor­i­ty state-owned, pub­licly list­ed TTNGL yes­ter­day passed a spe­cial res­o­lu­tion at the com­pa­ny’s an­nu­al meet­ing, which paves the way for it to re­sume the pay­ment of div­i­dends af­ter a three-year pe­ri­od in which the own­ers of the com­pa­ny re­ceived none.

Speak­ing at the an­nu­al meet­ing, which was held in the ball­room of the Hilton Trinidad and Con­fer­ence Cen­tre, TTNGL chair­man Ger­ald Ramdeen said the board of the com­pa­ny would con­sid­er pro­vid­ing its share­hold­ers with the op­tion of re­ceiv­ing div­i­dends in US dol­lars. In or­der to re­ceive div­i­dends in US dol­lars, share­hold­ers would have to open US-dol­lar ac­counts at a lo­cal com­mer­cial bank.

TTNGL was un­able to pay div­i­dends to its share­hold­ers, due to the com­pa­ny’s in­abil­i­ty to sat­is­fy the sol­ven­cy test pre­scribed un­der Sec­tion 54 of the Com­pa­nies Act.

By ap­prov­ing the spe­cial res­o­lu­tion, which re­quired a vote of not less than 75 per cent of the votes cast at the meet­ing, TTNGL share­hold­ers re­duced the stat­ed cap­i­tal of the com­pa­ny by $2.2 bil­lion. That move elim­i­nat­ed the com­pa­ny’s ac­cum­mu­lat­ed deficit of $1.8 bil­lion as at De­cem­ber 31, 2025, al­low­ing it to pass the sol­ven­cy test.

TTNGL’s main in­vest­ment is its 39 per cent in­ter­est in Phoenix Park Gas Proces­sors Ltd in con­junc­tion with NGC NGL Com­pa­ny (NGC NGL), with 51 per cent, and an in­vest­ment con­sor­tium, Pan West En­gi­neers and Con­struc­tors, LLC (1 per cent).