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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND


COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (US$ 0.00232776) per share, as quoted by Insider Stories.

Adaro Corporate Secretary Devindra Ratzarwin said the proposed dividend will be discussing during annual of shareholders general meeting scheduled in April 20 2011. According to him, Adaro distributed an interim dividend of Rp 315.06 billion (US$ 36,360,069) on December 10 last year. In total, the company will distribute Rp 960 billion (US$ 110,790,536) dividend from net income last last year.

Insider further said, Adaro posted a 49% plunge in net income to IDR 2.2 trillion (US$ 253,894,979) last year on the back of dropped sales prices and increased cost of goods sold.

President Director of Adaro Garibaldi Thohir said the production can be maintained although the company suffered pressure in term of operational due to rain factor so that the revenue increased by 4.9% to US$2.72 billion (US$ 311,598) last year.

“Although the abnormal rainfall provides bad impact to the operational activity, we once again posted a growth in production and continue to maintain the record of annual production growth during 19 years,” he said in official statement. ( IDR = 0.000115407 USD) - Source: www.xe.com



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