Antam to pay dividends at Rp70.71 per share

Jakarta (ANTARA News) - State mining firm PT Aneka Tambang Tbk (ANTM) at its general shareholders meeting here on Tuesday decided to allocate 40 percent of its last year`s net profit as dividends.

In total, the company would pay dividends of Rp673.4 billion or at a rate of Rp70.71 per share this year, ANTM corporate secretary Bimo Budi Satriyo said following the general shareholders meeting.

He said cash dividends paid to the state reached Rp438.39 billion and to public shareholders Rp234.96 billion.

Earlier, the management of PT ANTM proposed that 35 percent to 50 percent of last year`s net profit be distributed as dividends.

Last year, PT ANTM posted a net profit of Rp1.663 trillion, a 175 percent surge compared with the year before.

The meeting also agreed to allocate Rp33.667 billion of last year`s net profit for partnership programs and Rp942.703 billion for business expansion.

Bimo said the company`s financial performance recorded significant growth, fueled by higher sales and prices of ferronickel as its key commodity.

ANTM said recently it recorded an unaudited total revenue of Rp2.99 trillion in 2010, up 22 percent from a year earlier.

The company said its ferronickel sales volume rose by 60 percent to 7,287 tons last year, while gold sales decreased 45 percent to 1,544 kilograms.