PT Adaro Energy Tbk (ADRO) will distribute dividends of US$ 200 million for the 2018 fiscal year. In that year ADRO pocketed net profit of US$ 417.72 million, down 13.57% year on year (yoy).

“The amount of cash dividends includes interim dividends of US$ 75 million, which had been paid on January 15, 2019. The remaining will soon be paid as final dividends,” said ADRO CEO Garibaldi “Boy” Thohir after the company’s Annual General Meeting of Shareholders (AGM) as quoted by Bisnis.com, Tuesday (30/4).

Mr Thohir added that the amount of dividends this year dropped 20% from dividends in the previous fiscal year amounting to US$ 250 million, in line with a drop in the company’s net profit.

ADRO’s remaining net profit, said Mr Thohir, will be kept as reserved funds and retained earnings. According to him, the company remains committed to distribute dividends despite having faced numerous challenges in the coal industry in 2018.

Source: IDNFinancials.com

30 April 2019