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ADRO Distributes Interim Dividend of US $ 75.17 Million

The logo of PT Adaro Energy as seen at PT Adaro Energy headquarters in Jakarta, Indonesia, October 20, 2017. REUTERS/Beawiharta

JAKARTA – Mining company PT Adaro Energy Tbk. (ADRO) distributes interim dividends worth US $ 75.17 million from the acquisition of net income as of September 2018.

In an information disclosure on Wednesday (19/12), management said that it would distribute interim dividends worth US $ 75,167,010.79 (US $ 75.17 million) to 31,985,962,000 (31.98 billion) shares, equivalent to US $ 0.00235 per sheet.

“Recording date and announcement of conversion rates on January 2, 2019. Distribution of interim dividends on January 15, 2019,” said management in information disclosure on Wednesday (12/19).

In the first 9 months of 2018, Adaro’s net income reached US $ 312.71 million. That value decreased 16.04% year on year (yoy) from the previous US $ 372.45 million.

This was due to the increase in cost of revenue rising to US $ 1.78 billion from US $ 1.58 billion. Gross profit was corrected towards US $ 878.55 million from the position as of September 2018 of US $ 859.43 million.

Adaro Energy’s President Director, Garibaldi Thohir, said that the increase in basic expenses was due to an increase in mining costs along with the addition of overburden stripping volume. In addition, the price of oil fuel is heating up, and payment of royalties to the government increases due to the increase in average selling prices.

Meanwhile, as of September 2018 ADRO recorded an increase in operating revenues of US $ 2.66 billion. That value increased 9.35% yoy from the previous US $ 2.44 billion.

The coal mining and trading business contributed 92.54% of the total revenue or a total of US $ 2.47 billion. The export market contributed US $ 2.04 billion, while the domestic market was US $ 633.73 million.

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