PT Timah AGMS Decides To Give Dividend IDR 474.65 Billion

Photo: Maria Trisnawati/VOI

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Timah Tbk (TINS) agreed to distribute dividends of 40 percent of the net profit for the 2024 financial year.

Thus, the amount of dividends that will be distributed is IDR 474.65 billion or IDR 63.73 per share.

Meanwhile, the remaining 60 percent of the 2024 Financial Year's net profit of IDR 711.98 billion was recorded as an unbacked retained earnings balance.

"For dividends for the 2024 financial year, which was approved at 40 percent and 60 percent of it became retained earnings balance," said TINS Finance Director Fina Eliani at a press conference in Jakarta, Thursday, June 12.

Throughout 2024, the company posted revenue of IDR 10.86 trillion, an increase of 29.37 percent from IDR 8.39 trillion in 2023 in line with the increase in tin metal sales volume and the average selling price of tin metal.

The company's cost of revenue increased 1.26 percent from IDR 7.93 trillion in 2023 to IDR 8.03 trillion in 2024.

The company posted a operating profit of IDR 1.76 trillion with the achievement of EBITDA of IDR 2.71 trillion or 396 percent from 2023.

The company's asset value at the end of 2024 fell 0.42 percent to IDR 12.80 trillion from IDR 12.85 trillion at the end of 2023.

Meanwhile, the company's liabilities position was IDR 5.35 trillion, down 19.08 percent compared to the position at the end of 2023 of IDR 6.61 trillion due to the repayment of short-term bank loans, bonds and buybacks of medium terms notes (MTN).

The equity position of IDR 7.45 trillion has increased by 19.35 percent compared to the position at the end of 2023 of IDR 6.24 trillion, in line with the booking of profits in 2024.