Royal To Shareholders! PTBA Distributes 100 Percent Dividend From 2022 Profit

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Bukit Asam Tbk (PTBA) decided to distribute 100 percent of net profit in 2022 or IDR 12.6 trillion as dividends to shareholders.

"We distribute dividends for the 2022 financial year of 100 percent or around Rp. 12.6 trillion," said PTBA President Director Arsal Ismail at a press conference, Thursday, June 15.

Despite distributing 100 percent of profit without retained earnings, Arsal continued, his party admitted that it would continue to consistently expand and develop throughout this year in accordance with the 2023 Company Work Plan and Budget (RKAP). "According to the 2023 RKAP, we will continue to consistently expand and develop PTBA," continued Arsal.

Regarding the development that will be carried out by the company this year, Arsal revealed that his party will concentrate on developing New Renewable Energy (EBT) and increasing the company's existing production capacity. Meanwhile, throughout 2022 PTBA produces 37 million metric tons (MT) of coal.

"In 2023 we projected 41 million metric tons," added Arsal.

Arsal also ensures that the company's cash flow (cashflow) is in good condition and has sufficient capital to finance the entire expansion that will be carried out this year.

"Until now, PTBA has sufficient cash flow to finance mining, it can be from internal funds or cooperation with 3rd parties," he explained.

PTBA's Director of Finance and Risk Management Farida Thamrin further added that until the end of 2022 PTBA had cash equivalents of IDR 15.5 trillion and the realization of capital expenditures or capex ranged from 20 to 30 percent.

"We also have a holding company, we can synchronize it with the holding so we can carry out internal funding," concluded Farida.