Indo Tambangraya to pay interim dividend

Indonesia-listed coal miner group PT Indo Tambangraya Megah (ITM) Tbk, an Indonesian coal unit of Thai giant firm Banpu Plc announced Monday that its board of directors has agreed to execute payment of the interim dividend of first-half 2011 to the entitled shareholders in the amount of Rp1,168 per share.

The dividend payment had been approved by shareholders on the annual general meeting (AGM) held on August 25, 2011.

Cum dividend in regular and negotiated markets is scheduled for September 28, 2011 while cum dividend in cash market is set for October 4, 2011. The dividend will be distributed on October 14, 2011.

As of June 30, 2011, the company has coal reserves totaling 360.74 million tonnes with its five coal mine subsidiaries operating in East and South Kalimantan, namely: PT Indominco Mandiri, PT Jorong Barutama Greston, PT Kitadin, PT Trubaindo Utama and PT Bharinto Ekatama.

The company booked net profit of US$205.33 million in the first half of 2011, jumped 53% from the corresponding period of 2010. It reported sales revenue of US$970.3 million, increased 19% from the same period last year.

ITM produced 11.23 million tonnes of coal during first half of this year, of which Indominco produced 6.76 million tonnes, Trubaindo 3.14 million tonnes, Kitadin 590,000 tonnes and Jorong 742,000 tonnes.

ITM plans to produce 25 million tonnes of coal this year, up 2 million tonnes from 23 million tonnes last year. (denny)