JAKARTA. PT Bayan Resources Tbk (BYAN), the coal mining issuer owned by Low Tuck Kwong, will distribute cash dividends of US$300 million or US$0.009 per share.

Jenny Quantero, Corporate Secretary of BYAN, said the cash dividend distributed was equivalent to 24.23% of net profit for the 2023 fiscal year. "In accordance with the results of the Annual GMS on June 27, 2024," said Jenny, in an official statement.

Cash dividends will be distributed to BYAN shareholders, whose names are recorded at the recording date on July 9, 2024. The cash dividend payment is then scheduled for July 24 2024.

According to idnfinancials.com data, BYAN recorded a net profit of US$1.23 billion in 2023. At the end of the year, the company had a retained earnings balance of US$1.75 billion. Meanwhile, total equity is US$1.97 billion. (KR/LM)