ADRO – Plans to disburse a USD400 mn in interim dividend

ADRO – Plans to disburse a USD400 mn in interim dividend Adaro Energy Indonesia (ADRO) has declared an interim dividend totaling USD400 mn, or equal to a total of IDR6.17 tn (with rate of IDR15,439 per USD), or the shareholders will get around IDR199.98 per share. The cum-dividend is scheduled for December 28, 2023, with the actual distribution set for January 12, 2024. In 9M23, ADRO' revenue declined 15.76% yoy to USD4.98 bn, mainly driven by lower global coal prices, and its 9M23 net profit reached USD1.21 bn (-35.96% yoy). For 2023' capex, ADRO had set around USD400 mn to USD600 mn, and the company has spent USD473 mn in 9M23, which primarily for the development of an aluminum smelter in North Kalimantan. INCO expects to operate the smelter by 2025, and the total investment needed for the smelter' first phase development is around USD2 bn with production capacity of 500,000 tons per year. (Source: Bisnis Indonesia)