JAKARTA – PT Adaro Minerals Indonesia Tbk (ADMR), a coal mining company indirectly owned by Garibaldi Thohir, also known as Boy Thohir, will distribute a cash dividend of USD 120 million.

The dividend decision follows the Annual General Meeting of Shareholders (AGMS) held by ADMR on Monday (2/6).

During the meeting, shareholders agreed to allocate 27.48% of the company’s 2024 net profit as cash dividends. The remaining net profit, amounting to USD 312.29 million, was designated as retained earnings.

With this allocation, ADMR is expected to pay a dividend of IDR 48 per share, based on an exchange rate of IDR 16,500 per USD.

As of the close of trading last week, ADMR’s share price stood at IDR 1,030 per share. Based on this price, the indicative dividend yield is 4.7%.

Following the AGMS, ADMR’s share price rose 1.94% to IDR 1,050 per share as of 11:16 AM local time, compared with last week’s closing level.

As previously reported by IDNFinancials.com, ADMR’s 2024 net profit declined by 0.99% year-on-year to USD 436.66 million, even as revenue rose 6.4% to USD 1.15 billion. (KR/ZH)