Antam Announces Rp 1.9T Dividend Payment
Jakarta. State-owned mining company Aneka Tambang (ANTM), more popularly known as Antam, said Thursday it will pay shareholders Rp 1.91 trillion ($127.6 million) in dividends, equivalent to 50 percent of the company's net profit recorded last year.
Corporate Secretary Syarif Faisal Alkadrie said the dividend payout, set at Rp 79.5 per share, has been agreed in the shareholders' annual meeting. The amount is 35 percent higher than last year's payout.
Despite having the Rp 3.82 trillion net profit halved by the payout ratio, Antam will continue to invest in explorations and new business expansion including the electric vehicle battery industry, he said.
"Everything has been calculated, including the financial needs for business expansion as our profit grows. The agreed dividend payout will not affect our cash flow," Syarif told Investor Daily in Jakarta.
Antam has a 25 percent stake in Indonesia Battery Corporation (IBC), a consortium of four state-owned companies which aims to produce batteries for electric vehicles.
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