The Annual General Meeting of Shareholders of PT Indo Tambangraya Megah Tbk (ITMG) set dividends for the 2020 financial year at US$35.5 million or 90% of the profit for the year attributable to the owners of the parent entity at US$39,469 million.

Of the US$35.5 million total dividends, approximately US$22.8 million or equivalent to Rp307 per share, was distributed to shareholders as an interim cash dividend on November 24, 2020.

The remaining US $ 12.7 million or equivalent to Rp167 per share will be distributed in the form of cash dividends to shareholders on April 29, 2021, with a recording date of April 16, 2021.

"The remaining net profit will be added to retained earnings to support the development of the company's operations," said ITMG's press release on Wednesday (7/4).

At the end of 2020, ITMG posted a profit for the year attributable to owners of the parent company of US $ 39.469 million or nearly four times the drain from the previous year's US $ 129.426 million. The drop in the net income by 31.02% to US$1.185 billion from US$1.715 billion caused the lower profit.

Total assets were at US$1,158 billion with cash and cash equivalents at the end of the year, around US$231,459 million.