Earning IDR 2.4 Trillion Profit, PTBA Distributes IDR 835 Billion Dividends

JAKARTA - The state-owned coal mining company PT Bukit Asam Tbk (PTBA) has decided to distribute dividends of IDR 835 billion. This amount is equivalent to 35 percent of the 2020 net profit which reached IDR 2.4 trillion.

This decision was taken at the Bukit Asam's Annual General Meeting of Shareholders (AGMS) which was held in Jakarta, Monday, April 5 yesterday. The shareholder structure of PTBA consists of MIND ID of 7.59 billion shares, other shareholders of 3.58 billion, the Republic of Indonesia with 5 shares, and treasury shares of 336.59 million, with a total outstanding share of 11.52 billion.

Thus, the total dividend per share of PTBA for the 2020 financial year is IDR 74.55 per share. As a comparison, the amount of dividends and the dividend payout ratio (DPR) Bukit Asam in 2020 has decreased from 2019.

Last year, Bukit Asam distributed cash dividends for the 2019 financial year of IDR 3.65 trillion, equivalent to 90 percent of 2019's net profit which reached IDR 4.06 trillion.

As an illustration, PTBA posted a decrease in revenue and net profit in 2020. This South Sumatra-based company posted revenues of IDR 17.32 trillion, down 20.48 percent over the same period the previous year which reached IDR 21.79 trillion.

As a result, PTBA's net profit also shrank 41.17 percent to Rp2.39 trillion, compared to the same period the previous year which reached Rp4.06 trillion.