Adaro Energy to make the cash dividend payment of USD 146.8 million
JAKARTA. PT Adaro Energy Tbk (ADRO), the coal mining company established in 2005, plans to distribute its cash dividend of USD 146.8 million, equivalent to 99% of its net profit in the fiscal year 2020.
“We kept our commitment to give the return payment to our shareholders by distributing the cash dividend periodically,” Garibaldi Thohir, the President Director of ADRO, explained.
The plan has gained the approval of the shareholders during the Annual General Shareholders Meeting held on Monday (26/4). The meeting also yielded agreement on allocating the remaining USD 110.8 thousand of its net profit to retained earnings.
In its official statement, Thohir admitted that the company was affected by the COVID-19 pandemic last year, which hit the world, including Indonesia. However, he is optimistic that the prospect of the coal industry would recover this year. (KR/ZH)