ADRO - USD2.6 bn final dividend proposal, 23.84% yield for 2023

ADRO - USD2.6 bn final dividend proposal, 23.84% yield for 2023 Adaro Energy Indonesia (ADRO) has announced that an Extraordinary General Meeting of Shareholders (EGMS) will be held on Monday, November 18, during which it plans to propose a final dividend distribution for the 2023 fiscal year, with a maximum amount of up to USD2.6 bn (DPR : 160.2%). Previously, ADRO distributed dividends amounting to USD800 mn in May 2024. Accordingly, the anticipated additional dividend per share is estimated at USD0.06 per shares or IDR937 per shares (based on an exchange rate of USD/IDR15,751), resulting in a dividend yield of 23.84% (based on the closing price November 4, 2024). (Source : Company, KBVS Research)