Postponed GMS Schedule, PTBA is Projected to Still Pay Dividends


Bisnis.com, JAKARTA – The state-owned rock mining company, PT Bukit Asam Tbk. (PTBA) is projected to provide quite high dividends for the 2020 financial year even though the company’s performance is under pressure due to the Covid-19 pandemic.

Mirae Asset Sekuritas Head of Investment Information Roger MM said that there are several issuers that are predicted to provide quite high dividends per share.

“One of them is PTBA which has dividen yield 6.8 percent, “said Roger in a virtual Mirae Asset Media Day Thursday (4/3/2021).

He projects PTBA’s 2021 dividend of IDR185 per share. PTBA is known as a generous issuer in distributing dividends. The coal producer is also included in the constituents of the IDX High Dividend 20 (IDXHIDIV20).

IDXHIDIV20 consists of 20 shares that have distributed cash dividends for the last 3 years. Not only that, residents of the index are also known to have high dividend yields.

As is known, the issuer coded PTBA shares distributed dividends of IDR 3.65 trillion for the performance of the 2019 financial year. This amount is equivalent to 90 percent of the total net profit which reached IDR 4.05 trillion. The company’s DPR for the performance of the 2019 financial year increased from the previous year.

It is recorded that PTBA distributes dividends of 75 percent of the total profit in 2018. PTBA distributes dividends worth IDR 3.76 trillion or 75 percent of the profit for the 2018 financial year. Thus, the value received by shareholders is IDR 339.63 per share.

Until the third quarter of 2020, PTBA’s production volume was 19.4 million tons, down 10 percent compared to the third quarter of 2019. The volume is equivalent to 77 percent of this year’s target, which has been adjusted to 25.1 million tonnes.

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In addition, the sales volume also decreased by 9 percent on an annual basis year on year (yoy) to 18.6 million tonnes, while coal transportation performance was maintained at around 17.7 million tonnes. The weakening of operational performance also affected the company’s financial performance.

In the third quarter of 2020, PTBA posted revenues of IDR 12.84 trillion, a correction of 20.95 percent compared to the acquisition of IDR 16.25 trillion in the third quarter of 2019.

In line with that, PTBA also recorded a 44.27 percent decrease in profit for the current period attributable to owners of the parent entity to IDR 1.74 trillion in the third quarter of 2020 compared to the third quarter of 2019 of IDR 3.1 trillion.

“In the third quarter, PTBA or other mining issuers still grew negatively, but we are sure that the first quarter of 2021 is expected to be a catalyst for coal issuers to improve their performance, especially driven by the increasing tendency of coal prices,” he added.

Meanwhile, PTBA management announced changes to the agenda of the Annual General Meeting of Shareholders (AGMS), to be on April 5, 2021 from the previous plan of March 29, 2021.

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