JAKARTA. PT Petrosea Tbk (PTRO), an oil and gas company recently acquired by Prajogo Pangestu, will distribute cash dividend of USD 3.05 million taken out of its 2023 net profit.

The amount of dividend that will be paid is equal to 25% of PTRO’s net profit in 2023. “It follows the result of the AGMS of PTRO on April 29, 2024,” added Anto Broto, Head of Corporate Secretary, Investor Relations, and Communication of PTRO, in the information disclosure in Indonesia Stock Exchange (IDX).

The dividend per share is set to USD 0.00308, with the currency exchange rate following mid-rate of Bank Indonesia on May 14, 2024. The dividend payment is scheduled to take place on May 30, 2024.

For the record, PTRO reported net profit of USD 12.2 million in 2023. In addition, the company still hold onto its retained earnings of USD 210.59 million as of December 31, 2023.

PTRO’s net profit in 2023 was supported by its revenue that reached USD 577.62 million, up 21.2% year-on-year (yoy). Despite this growth in revenue, its net profit dropped 70% from the year before.

According to IDNFinancials data, as of now, 34.90% of PTRO are under the control of PT Caraka Reksa Optima. PT Kreasi Jasa Persada, the company owned by Prajogo Pangestu, claims another 34%. PT Sentosa Bersama Mitra also owns 18.85%, followed by public investors of 12.25%. (KR/ZH)