Indo Tambangraya (ITMG) Will Distribute Dividend of Rp 1,747 Per Share

DIVIDEND DISTRIBUTION-JAKARTA. PT Indo Tambangraya Megah Tbk, or ITMG, has announced its cash dividend distribution schedule.

According to the Annual General Meeting of Shareholders held on March 28, 2024, the coal mining issuer will distribute dividends worth US$ 125.94 million, or equivalent to Rp 1,747 per share.

Here is the ITMG dividend distribution schedule:

• Effective date: March 28, 2024
• Cum dividend in the regular and negotiation market: April 16, 2024 
• Ex Dividend in the regular and negotiation market: April 17, 2024
• Cum dividend in the cash market: April 18, 2024
• Ex dividend in the cash market: April 19, 2024
• Date of the list of shareholders entitled to cash dividends: April 18, 2024
• Dividend payment date: April 25, 2024.

At the Annual General Meeting on March 28, 2024, ITMG decided to set the total cash dividend for the 2023 fiscal year at US$ 325 million. This amount is equivalent to a payout ratio of 65% of the net income attributable to the parent entity of ITMG in 2023, which is worth US$ 500 million.

Read Also: Indo Tambangraya (ITMG) Targets Sales Up to 25.6 Million Tons in 2024

Of this, US$ 199 million, or equivalent to Rp 2,660 per share, has previously been distributed to shareholders as an interim cash dividend on September 22, 2023. Thus, in total, ITMG distributed dividends amounting to US$ 325.21 million, or equivalent to Rp 4,407 per share.

In detail, this amount consists of an interim dividend of US$ 199.27 million, or equivalent to Rp 2,660 per share, and a cash dividend worth US$ 125.94 million, equivalent to Rp 1,747 per share. This dividend distribution is based on ITMG's financial data as of December 31, 2023.

ITMG achieved a net profit of US$ 500.33 million. The unrestricted retained earnings balance is US$ 1.32 billion, with ITMG's total equity reaching US$ 1.78 billion.