Adaro to pay final dividend $75.5 million
Indonesia coal producer PT Adaro Energy Tbk (IDX: ADRO) will pay the final dividend with total amount US$75.5 million or 49 percent of its 2015’s net income. The company has paid an interim cash dividend of $35.18 million on Jan. 15 and the remaining $40.3 million will be distributed as a final cash dividend, said Adaro’s president director Garibaldi Thohir. Adaro recorded net profit of $152.44 million in 2015, a 14.31 percent drop from the $177.9 million profit it pocketed in 2014. The firm’s sales volume slumped 7 percent year-on-year to 53.1 million tons last year, dragging down its revenue by 19.5 percent to $2.7 billion. Adaro Energy finance director David Tendian said the firm was allocating between $75 million and $100 million in capital expenditure this year, which it will use mainly for maintenance. This year, the firm plans to increase coal production to as much as 54 million tons, up from the 51.46 million tons recorded last year.
Source: The Insiderstories
Adaro to pay final dividend .5 million