ADRO - USD2.6 bn additional dividend & name change

ADRO - USD2.6 bn additional dividend & name change Adaro Energy Indonesia (ADRO) approved a maximum additional dividend of USD2.6 bn (IDR41,28 tn; USD: IDR15.849) and a name change to Alamtri Resources Indonesia. If the maximum dividend is distributed, it would amount to IDR1.294/sh, with a yield of 34.97% based on ADRO's closing price on Monday (18/11). The exact amount is yet to be announced. ADRO plans to partly fund this additional dividend using third-party loans for cash and cash flow efficiency. (Source : CNBC, KBVS Research)