JAKARTA (Yosefardi) – State tin producer PT Timah Tbk (TINS) will pay dividend of Rp283.31 billion, or Rp56.29 per share, for 2013 fiscal year.
The payment is scheduled for May 7, 2014. Cum dividend for cash market is set for April 22, 2014.
Timah, the world’s second largest tin producer, booked net profit of Rp544 billion in 2013, grew by 35% from Rp403 billion in 2012.
Revenues however dropped 20.5% to Rp5.85 trillion from previous Rp7.36 trillion. Operating profit rose 27.5% to Rp830 billion from Rp651 billion in 2012.
Timah expects to book net profit of Rp280-310 billion in first quarter of this year,
jumped by 170-200% from Rp102.8 billion in the same period of last year.
Sales is expected to reach Rp1.4-1.6 trillion, compared to Rp1.5 trillion in first quarter of 2013. Timah’s tin sales in the period is projected to reach 6250-7000 tons.
Timah plans to invest Rp2.5 trillion this year, of which Rp1.1 trillion is allocated for funding the acquisitions.