Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the last 10 years, Tenaga Nasional Berhad has lifted its dividend by approximately 16% a year on average. The only way to pay higher dividends when earnings are shrinking is either to pay out a larger percentage of profits, spend cash from the balance sheet, or borrow the money. Tenaga Nasional Berhad is already paying out a high percentage of its income, so without earnings growth, we're doubtful of whether this dividend will grow much in the future.