PGEO Reviews Dividend Ratio Up To 90 Percent

JAKARTA - SOE issuers geothermal or geothermal PT Pertamina Geothermal Energy Tbk (PGEO) provide leaks regarding the amount of dividend ratio to be distributed this year.

Pertamina Geothermal Energy Finance Director, Yurizki Rio said, in 2024 PGEO will provide dividend payoit ratio of up to 78 percent of net profit for the 2023 financial year.

As for this year, the company is considering granting dividend ratios between 80 and 90 percent.

"If last year the dividend ratio was 78 percent, this year we are now reviewing maybe PGEO's dividend payout ratio between 80 percent to 90 percent, depending on the cash later," he said, quoted on Tuesday, March 11.

He explained that currently his party is still conducting a study with controlling shareholders regarding the plan to increase the dividend payout ratio.

On the other hand, he continued, PGEO also considers capital expenditure needs or Capital Expenditure (capex) and idle cash funds in the company. The funds are planned to be placed on deposits.

"The rest is idle cash, which we don't want to cause negative carriers for the company and also for shareholders. Here we are also reviewing several things," said Yurizki.