JAKARTA (Yosefardi) – Coal miner PT Adaro Energy Tbk (ADRO) will pay dividend of US$75.49 million for 2014 fiscal year, representing 42% of its net profit ($178.16 million).
Adaro had on January 16th, 2015 paid the interim cash dividend of US$30.07 million. Then the remaining dividend is US$45.42 million.
Adaro’s net income decreased 21% to US$183.5 million last year as coal prices remained weak in 2014 due to persistent oversupply and slower demand from China.
Meanwhile, the company continues to maintain strong balance sheets and flexible liquidity by preserving cash and reducing debt.
Adaro Energy’s President Director Garibaldi Thohir noted that the macro situation was difficult last year as coal prices continued to be under pressure due to an oversupply in the market.