More in Metal Timah Declares Dividends at 50% of 2010 Net Profit

BY AGUNG BUDIONO

JAKARTA (IFT) - PT Timah Tbk (TINS), a state-owned metallic mineral producer, distributed dividends amounting to Rp 473.96 billion, or Rp 94.17 per share, which comprises 50 percent of the Rp 947.93 billion net profit it generated in 2010. The company’s dividend payout ratio is around the same as last year’s.
Of the total, Rp 308.07 was distributed to the government and Rp 165.88 billion to the public. The remaining Rp 9.47 billion, or 1 percent, was allocated for partnership programs, 2 percent (Rp18.95 billion) for environment development programs and 47 percent (Rp 445.52 billion) for retained earnings.
The company’s standby loan totals Rp 3 trillion, which was obtained from Bank Mandiri and Bank of Tokyo Mitsubishi, among others. Its cash stands at Rp 600 billion.
Timah allocated Rp 1.4 trillion for its 2011 capital expenditure (capex). Forty percent of the capex was used to maintain its suction vessels while Rp 480 billion went to the phase-I project to develop bucket wheel dredges. Rp 359 billion was used to rejuvenate its equipment, while Rp 180 billion was used to complete the phase-II tin chemical project. The remaining Rp 154 billion was used to improve the capacity of its shipyards.
Aneka Tambang
Meanwhile, PT Aneka Tambang Tbk (ANTM) distributed dividends amounting to Rp 673.4 billion or Rp 70.71 per share. This is 40 percent of its 2010 net profit and a 178.6 percent jump from the total it distributed a year earlier. Last year, the company distributed Rp 241.7 billion or Rp 25.38 per share.
Rp 438.39 billion of the cash dividends was distributed to the government and Rp 234.96 billion to the public.
The dividend payout ratio of PT International Nickel Indonesia Tbk (INCO) trumps the dividend payout ratio of Timah and Aneka Tambang. It distributed dividends of US$ 0.036 per share or 82 percent of its 2010 net profit. (*)