The dividend accounted for 35 percent of the company`s net profit of Rp20.5 trillion last year, Pertamina Vice President for Corporate Communication M Harun said at the State Enterprises Ministry here on Monday.
In the book year 2010, Pertamina paid a dividend of Rp7.12 trillion to the state. The figure represented 42.46 percent of the company`s net profit of Rp16.77 trillion in 2010.
The State Enterprises Ministry has set the target of Pertamina`s and state electricity company PT Perusahaan Listrik Negara (PLN)`s dividend payout ratio for 2012 at a range of 38.3-40 percent of their projected net profit of Rp32.743 trillion.
The two state-owned companies are expected to pay a total dividend of Rp12.88 trillion this year.
Overall, the ministry has set the target of state firms` dividend payments to the state for 2012 at 10-40 percent, with dividend payments projected to reach Rp30.776 trillion.
In 2011, Pertamina posted a net profit of Rp20.5 trillion, a 25.2 percent increase compared to Rp16.77 trillion in the previous year.
Despite the net profit hike, the company suffered Rp0.5 trillion in losses from the distribution of subsidized fuel oils last year.
Harun said the shareholders meeting held here on Monday only discussed the company`s performance in 2011.
(Uu.S012/O001)
Editor: Priyambodo RH
Copyright © ANTARA 2012
