Jun 22, 2011

Berau sets US$126 mio to boost coal

Indonesia's fifth largest coal producer PT Berau Coal Energy Tbk (BRAU) is providing US$126 million to optimize coal output to 20.3 million tons.
President Director Rosan P. Roeslani said by 2014, the company requires US$350 million to expand business. Berau is relying on internally generated cash flow and retained earning. "For 2011, we will spend US$126 million. So far, we will use internally cash flow and retained earning," he said.
By end of 2014, Berau is scouting to boost coal output to 30 million tons or to lift 3 million tons per annum. In 2010, Berau produced 17.38 million tons, while coal sales was 17.38 million tons from 17.07 million tons.
Rp3.55 dividend
Berau was agreed by its shareholders to distribute Rp123.9 billion dividend or Rp3.55 per share. The dividend payout ratio is 20% of Berau's net profit. The company posted Rp1.27 trillion net profit last year, a 27.39% drop from Rp853.71 billion in the previous year.

Disclosure: No position at the stock mentioned above.

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