Adaro?s shareholders agrees 2010 final dividend

Indonesia-listed energy firm PT Adaro Energy Tbk?s shareholders agreed on Wednesday to distribute final dividends totalling Rp 970.77 billion (1US$ = Rp 8,657) or 43.98% of the company?s 2010 net income.

The payment is the highest dividend payout in Adaro?s IPO history. The dividends includes the interim dividend amounting to Rp 315.06 billion paid on Dec. 10, 2010. While the remaining Rp 655.71 billion will be distributed as a final dividend. The final dividend payment schedule will be published in two nationally circulated newspapers in accordance with the prevailing laws and regulations, the company said.

Despite the record setting high volume of rainfalls and number of raindays, Adaro?s production volume increased 4% to 42.2 million tonnes in 2010, with 2.5 million tonnes coming from the new Wara pit, and sales volume increased to 43.84 million tonnes.

Adaro has generated a solid industry topping EBITDA margin of 33% and EBITDA of US$884 million.

Furthermore, total assets were recorded at Rp 40.60 trillion, while total liabilities declined 12% to Rp 21.97 trillion. Shareholders? Equity increased 6% to Rp18.58 trillion due to the increase of unappropriated retained earnings. Adaro?s balance sheet as at end of December 31st, 2010 remained strong as Adaro continued to optimize its capital structure and maintain flexible liquidity, it said. (denny)