Apr 20, 2011

Adaro to distribute Rp30.35 dividend

One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) has been approved by its shareholders to distribute Rp30.35 per share totak dividend, representing 43.98% of 2010's earning per share of Rp69.
The Adaro dividend is including an interim dividend of Rp315.06 billion or Rp9.85 per share on December 10 last year. Adaro posted a 49% plunge in net income to Rp2.2 trillion last year on the back of dropped sales prices and increased cost of goods sold.
President Director of Adaro Garibaldi Thohir said the production can be maintained although the company suffered pressure in term of operational due to rain factor so that the revenue increased by 4.9% to US$2.72 billion last year.  “Although the abnormal rainfall provides bad impact to the operational activity, we once again posted a growth in production and continue to maintain the record of annual production growth during 19 years,” he said in official statement.

Disclosure: No position at the stock mentioned above.  

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