Adaro (ADRO) Prospects: Investment and Jumbo Dividends

Adaro (ADRO) shares have the potential to gain traction with the distribution of substantial dividends and the company's commitment to long-term investments.

Annisa Kurniasari Saumi

16 Mei 2024 - 19.36
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Adaro (ADRO) Prospects: Investment and Jumbo Dividends

The board of directors of PT Adaro Energy Indonesia Tbk. (ADRO) after the Annual General Meeting of Shareholders (AGMS) 2024 in Jakarta, Wednesday (15/5/2024). /Bisnis-Annisa Kurniasari Saumi.

Bisnis, JAKARTA — Adaro Energy Indonesia (ADRO), a coal issuer, is maintaining its investment strategy with a significant capital expenditure (capex) budget, even as shareholders opt to distribute dividends.

According to Director of Adaro Energy Indonesia Lie Luckman, ADRO has allocated a capex of approximately $600 - $700 million for 2024. This allocation will cater to various needs within the company.

"After allocating approximately $200 million for heavy equipment procurement, and around $100 million for purchasing barges, among other expenses, the remaining is allocated for mining requirements," stated Lie following the ADRO AGM in Jakarta on Wednesday (15/5/2023).

ADRO Director Michael Soeryadjaya affirmed that ADRO's cash flow position was secure enough to facilitate expansion efforts post-dividend distribution. Michael disclosed that ADRO had set aside funds for ongoing projects, including the aluminum smelter and phase I PLTA development.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.