JAKARTA. PT Garda Tujuh Buana Tbk (GTBO), a coal mining company that has been operating since 2007, will pay out a cash dividend of US$1.02 million or around IDR 15.4 billion (at an exchange rate of IDR 15,068.6).

Jones Manulang, Director of GTBO, conveyed the plan in accordance with the results of the Annual General Meeting of Shareholders (GMS) which was held at the end of last June. At the meeting, shareholders agreed to allocate 13.6% of net profit for the 2022 fiscal year as cash dividends.

Cash dividends will be given to GTBO shareholders, whose names are recorded on the recording date on July 12, 2023. Dividend payments are scheduled for July 28, 2023.

According to idnfinancials.com data, GTBO recorded a net profit of US$7.49 million in the 2022 fiscal year. The company also had a retained earnings balance of US$6.4 million at the end of the year, and total equity of US$46.92 million.

Currently, 33.40% of GTBO shares are owned by DBS Bank Ltd - SG. Bank Julius Baers & Co Ltd owns 32.78% of the shares, PT Garda Minerals 26.21%, and public investors 7.61%. (KR/LM)