Oct 15, 2010

Indika bags dividend from Kideco

PT Indika Energy Tbk (INDY), parent of coal miner PT Kideco Jaya Agung, will bag US$59,8 dividend from Kideco this month.
These additional cash for Indika will be generated from second stages of dividend distribution from Kideco.
"Indika will receive a total dividend of US$128,8 million from Kideco in two stages of distribution. We will obtain the second distribution this month," said Vice President of Investor Relations Indika Retina Rosabai told Insider Stories today.
Indika owns 46% stake in Kideco, while Samtan Co Ltd holds 49%, and 5% remaining belongs to PT Muji Inti Utama, affiliated of Bayan Resources Group.
In 2009, Kideco posted US$288 million earning. About US$280 million has been distributed as dividend for three shareholders.
Samtan obtained US$137.2 million and Muji Inti Utama bags US$14 million.
Kideco estimates US$347.9 million earning this year, a 20,8% increase from US$287.9 million last year.
Net revenue is expected to rise 27,2% this year from US$1,31 billion in 2009 to US$1,67 billion..

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