The Annual General Shareholders Meeting of PT Golden Energy Mines Tbk (GEMS), held on Thursday (6/5), approved the dividend distribution for the fiscal year 2020 of USD 125 million.
The Corporate Secretary of GEMS, Sudin, stated that the company would distribute its dividend, amounting to USD 125 million, which was taken from the 2020s net profit and unappropriated retained earnings.
The company had previously distributed interim dividends on December 22, 2020, and January 15, 2021, of USD 20 million and USD 30 million. The remaining USD 75 million would be the final dividend in the fiscal year 2020, which equals USD 0.01275 per share.
The final dividend originates from the companys net profit in 2020 of USD 42 million and the companys unappropriated retained earnings in 2020 of 32.06 million, Sudin explained in an official statement, Thursday (6/5).
In 2020, this coal mining factory recorded the net profit attributable to the parent company of USD 98.77 million. Besides dividend distribution, the meeting also called for allotting USD 1 million of its net profit to mandatory reserve funds and the remaining USD 49.8 million to retained earnings.