JAKARTA. PT Adaro Energi Indonesia Tbk (ADRO), one of the biggest coal mining companies in Indonesia, will be preparing the final dividend distribution of USD 400 million or IDR 6.4 trillion (using exchange rate of IDR 15,9848 per USD).

Mahardika Putranto, Corporate Secretary of ADRO, mentioned that this final dividend distribution followed the approval during the General Meeting of Shareholders regarding the allocation of 48.75% of 2023 net profit. “It is in accordance with the result of Annual GMS on May 15, 2024,” he added in the information disclosure in Indonesia Stock Exchange (IDX).

Previously, ADRO had distributed interim dividend of USD 400 million on January 12, 2024. Therefore, the total cash dividend distributed by the company in 2023 clocks up to USD 800 million.

The final dividend will be disbursed to ADRO’s shareholders whose names have been listed by the recording date on May 29, 2024, while the payment will be done on June 5, 2024.

According to IDNFinancials data, ADRO recorded net profit of USD 1.64 billion in 2023. At the end of the fiscal year, it reported retained earnings of USD 5.15 billion and total equity of IDR 7.4 billion.

Since the beginning of this year, ADRO’s stock price has gone up 370 points or 14.86% to IDR 2,860 per share. Within the past year, the stock price has reported an increase of 310 points or 12.20%. (KR/ZH)