Down, PTBA Distributes IDR 4.6 Trillion Dividend Equivalent To 75 Percent Profit 2023

The General Meeting of Shareholders for the Year of PT Bukit Asam Tbk (PTBA). (Photo: Maria Trisnawati/VOI)

JAKARTA - The General Meeting of Shareholders of the Year (AGMS) PT Bukit Asam Tbk (PTBA) approved the use of 75 percent of the Company's 2023 net profit of IDR 4.6 trillion as dividends with dividends per share that will be received by investors of IDR 397.7 per share.

PTBA President Director Arsal Ismail said the dividend payout ratio was recorded to decrease when compared to dividends in the previous year which were distributed 100 percent of profit.

Meanwhile, 25 percent of the company's 2023 net profit of IDR 1.5 trillion was used as retained earnings for the future development of the company's business operations.

"In the future, PTBA will carry out developments to improve performance, both operational and sales performance. Therefore, we need internal cash. With cash, 25 percent can support development plans that have been stated in the RKAB," said Arsal at a press conference in Jakarta, Wednesday, May 8.

Arsal continued with a 25 percent reserve of the profit, PTBA's capital expenditure or capex could be fulfilled from internal cash while the rest would be obtained from third parties.

Just so you know, PTBA has prepared a capex of IDR 2.9 trillion throughout 2023.

"So (dividend) is down, we hope that it can generate, increase income in the years ahead. We hope that there will be an increase," concluded Arsal.

Arsal said dividends will be distributed no later than 30 days after the AGMS is carried out.