PGN AGMS Shares Deviden 222.43 Million US Dollars

PT Perusahaan Gas Negara Tbk (PGN) held an Annual General Meeting of Shareholders for the 2023 Fiscal Year. (Photo: Doc. ANTARA)

JAKARTA - PT Perusahaan Gas Negara Tbk (PGN) held an Annual General Meeting of Shareholders for the 2023 Fiscal Year (AGMS).

In the agenda of Determination of the Use of Net Profit for the 2023 Fiscal Year, amounting to 278.09 million US dollars, shareholders decided to distribute a dividend of 222.43 million US dollars which will be distributed according to the share ownership portion in the Company or around Rp. 148 per share.

This figure increased from the previous year's IDR 141 per share.

Then 55.62 million US dollars will be used as retained earnings balance for business development activities.

Shareholders also agreed to grant authority and power to PT Pertamina (Persero) as the Most Series B Shareholders to determine the amount of special performance/incentive tantiem/incentives for the performance of the 2023 Financial Year, as well as set salaries/ honorariums, allowances, and facilities for members for the Board of Directors and Board of Commissioners of the Company for the 2024 Fiscal Year after first consulting with the Ministry of SOEs as the Series A Dwiwarna Shareholder institution.

Meanwhile, PGN's consolidated financial performance in 2023 managed to record revenue of US$3.65 billion.

Then, for Operating Profit was recorded at USD 542.42 million with a Net Profit for the Year attributable to the Main Entity of USD 278.1 million.

Throughout 2023, PGN's gas management volume will continue to grow positively with gas and old volumes reaching 977 BBTUD, an increase of 6 percent from 2022.

Meanwhile, natural gas flow through transmission pipes reached 1,458 MMSCFD, an increase of 8 percent compared to last year with gas supply coming from existing and new gas supply contracts.

PGN also recorded long growth in PGN's natural gas network pipeline to 12,692 KM from the previous 11,525 km, up 10 percent or an increase of 1,167 KM throughout 2023.

Furthermore, the volume of oil and gas lifting in 2023 was reached at 9.16 MMBOE.

Several business portfolios carried out by the Gas Group Subholding achieved good performance growth.

Oil transportation reached 56.86 MMBOE or a significant growth of 305 percent from last year, mainly contributed by the distribution of oil through the Rokan pipeline.

The upward trend was also seen in the regasification volume of 158 BBTUD or an increase of 10 percent from the previous year, and LPG processing reached 38,782 tons in 2023.