The SET-listed BTS Group Holdings Plc (BTS) remains on track to pay 6 billion baht in dividends thanks to strong operating results year-to-date, says chief financial officer Surayut Thavikulwat.
Third-quarter net profit increased by 98% year-on-year to 959 million baht.
At present, BTS has a cash reserve of 32.2 billion baht for business expansion, said Mr Surayut.
The operator of Bangkok's skytrain has vowed to pay 1 billion baht more in dividends each year over the next two years.
Investor relations manager Napat Buchsuk said skytrain revenue surged 17% year-on-year due mainly to an average fare increase of 14%.
Ridership also soared 8.4% year-on-year to 53.5 million trips, she said.
Operating profit fell by 4% to 2.33 billion baht in the same quarter due to the sale of it fare-box revenue and earnings to its BTS Rail Mass Transit Growth Infrastructure Fund (BTS-GIF), Thailand's first infrastructure fund.
BTS expects to take delivery of new Chinese-made trains this month and begin a trial run on Dec 5.
The new trains will increase overall capacity by 10.6%.
"We plan to join the bidding for four of the 10 proposed mass transit rail lines," said Mr Surayut, adding that an additional 116 billion baht will be required for the expansion.
He said the company will raise 41.7 billion baht through loans and additional bonds.
BTS is currently conducting a feasibility study for a project in Jakarta, to be concluded early next year.
If it proves viable, BTS will seek a 40-year operating concession from the Jakarta Monorail.
Shares of BTS closed yesterday on the Stock Exchange of Thailand at 9.15 baht, up 15 satang, in heavy trade worth 1.35 billion baht.