PT Vale Indonesia Fasting Dividends In 2024

PT Vale Indonesia Tbk (INCO) held an Annual General Meeting of Shareholders (AGMS) for the 2023 Fiscal Year. (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Vale Indonesia Tbk (INCO) held an Annual General Meeting of Shareholders (AGMS) for the 2023 Fiscal Year.

In this AGMS, shareholders agree that there will be no dividend distribution from the profit for the 2023 financial year.

"By considering capital expenditures for ongoing projects and working capital of the Company in the coming years, shareholders, in accordance with the recommendations of the Board of Directors and the Board of Commissioners, agree that no dividends will be paid to shareholders for the 2023 financial year," said President Director Vale Febriany Eddy at a press conference in Jakarta, Monday, June 10.

Based on VOI records, Vale recorded a net profit of 274.3 million US dollars or Rp4.28 trillion (exchange rate of Rp15,595) throughout 2023.

Vale also managed to record an increase in production by 18 percent and EBITDA by 499.6 million US dollars.

Finally, Vale distributed dividends in 2023 from profit in 2022 of 30 percent or equivalent to 60,120 US dollars.

Then in the 2020 financial year, Vale distributed dividends of US$33 million or equivalent to 40 percent of 2020's profit which was recorded at US$82.82 million.

Dividend distribution in 2020 is the first time in 6 years after being distributed in 2014.