Apr 16, 2011

Adaro to propose US$75 mio dividend

One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp20.17 per share.
Adaro Corporate Secretary Devindra Ratzarwin said the proposed dividend will be discussing during annual of shareholders general meeting scheduled in April 20 2011. According to him, Adaro distributed an interim dividend of Rp315.06 billion on December 10 last year. In total, the company will distribute Rp960 billion dividend from net income last last year.
Adari posted a 49% plunge in net income to IDR2.2 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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