JAKARTA – The Annual General Meeting of Shareholders (AGMS) of PT Medco Energi Internasional Tbk (MEDC) on Tuesday (3/6) approved the distribution of a final dividend totalling USD 37.95 million, equivalent to IDR 25 per share.

Using the current exchange rate of IDR 16,308.7 per US dollar, the final dividend distribution amounts to approximately IDR 618.85 billion.

According to MEDC’s official release, the company’s total dividend distribution for the 2024 financial year reached USD 63.29 million.

Of this amount, USD 25.34 million—equivalent to IDR 394.79 billion (based on an exchange rate of IDR 15,581/USD)—was previously paid as an interim dividend on 1 November 2024, amounting to IDR 15.75 per share.

“The total dividend consists of an interim dividend of USD 25,338,499 (IDR 15.75 per share) paid on 1 November 2024, and a final dividend of IDR 25 per share (approximately USD 37,955,538) to be paid on 4 July 2025,” stated MEDC’s management in a public disclosure on Tuesday (3/6).

According to data from IDNFinancials.com, the company’s net profit grew by 10.9% year-on-year to USD 367 million in 2024, supported by growth at PT Amman Mineral Internasional Tbk (AMMN) and the full contribution from Block 60 in Oman.

This growth was in line with a 7% increase in revenue to USD 2.4 billion in 2024. However, gross profit declined by 10% to USD 933 million. (DK/ZH)