JAKARTA. PT Timah Tbk (TINS), one of state-owned mining companies, will conduct the cash dividend distribution of IDR 312.45 billion that will be taken out of its net profit in the fiscal year 2022.

Abdullah Umar, Corporate Secretary of TINS, mentioned that this plan is in accordance with the result of the Annual General Meeting of Shareholders (AGMS) held earlier. In this meeting, the shareholders all agreed to allocate the entire net profit in 2022 as cash dividend.

The cash dividend will then be channelled to TINS’s shareholders whose names entered the Official Register of Shareholders by June 27, 2023. Next, the cash dividend will be disbursed on July 14, 2023.

According to IDNFinancials data, TINS booked net profit of IDR 312.45 billion in the fiscal year 2022. At the end of 2022, the company still possessed retained earnings of IDR 729.04 billion and total equity of IDR 7.04 billion.

As of now, PT Indonesia Asahan Aluminium (Persero) or Inalum controls 65% of TINS, leaving the remaining 35% to public investors. (KR/ZH)