JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO), a subsidiary of PT Pertamina (Persero) that has just debuted on Indonesia Stock Exchange (IDX) last February, announces the distribution of dividend of USD 30 million.

Kitty Andhora, Corporate Secretary of PGEO, said that this plan aligns with the result of the Annual General Shareholders Meeting held earlier last week. In said meeting, the shareholders agreed upon the allocation of 23.56% of the 2022 net profit as cash dividend.

The cash dividend will be disbursed to PEGO’s shareholders whose names have entered the list by the recording date on June 15, 2023. Each share is entitled to dividend worth IDR 10.87, which will be paid on July 7, 2023.

According to IDNFinancials data, PGEO recorded net profit of USD 127.34 million in the fiscal year 2022. It also held onto unrestricted retained earnings of USD 57.37 million and total equity worth IDR 1.26 billion.

As of now, PT Pertamina Power Indonesia, a subsidiary of Pertamina, controls 69.01% of PGEO. Public investors claim another 25%, followed by Pedeve’s portion of 5.99%.

PGEO has been listed as IDX member since February 24, 2023. In its Initial Public Offering (IPO), PGEO issued 10.35 billion shares, raising IDR 9.05 trillion of fresh funds at the end of corporate action. (KR/ZH)