Samindo Resources Dividend Payment Ratio (MYOH) Up 146%

Issuer of coal mining contractor PT Samindo Resources Tbk. (MYOH) decided to distribute dividends for the fiscal year 2017 of US $ 18 million, or 146.58% of last year's net profit of US $ 12.28 million.

President Director of PT Samindo Resources Kim Jung Gyun said that based on the resolution of the General Meeting of Shareholders (GMS) for book year 2017, the company will distribute dividends worth US $ 18 million. That amount is almost 150% of total net profit of US $ 12.28 million.

Compared to last year, Samindo distributed US $ 17 million dividends from its 2016 net profit of US $ 21.22 million with an 80% ratio. That is, although net income decreased MYOH committed to give high dividends to shareholders.

"We consistently deliver high dividends to shareholders. This is also one form of support Samindo to the people of Indonesia in the long term, "he said, Friday (4/5/2018).

According to him, the dividend given by MYOH became one of the highest among other mining issuers. In general, the performance of coal mining companies and their derivatives is improving as commodity prices are heating up.

Samindo Resources Investor Relation Ahmad Zaki Natsir added that the dividend that exceeds the annual net income is possible. In order to disburse US $ 18 million to shareholders, the company allocates the funds from retained earnings.

At the end of December 2017, MYOH still retained unappropriated retained earnings of US $ 56.81 million. In the first three months of 2018, total balances increased to US $ 62.63 million.

"Since our retained earnings are still secure, we can allocate for dividends," he said.

After the announcement of the dividend distribution at around 15.00 WIB, MYOH's stock which previously in negative trend is suddenly reverse. Until the close of trading Friday (4/5/2018), the stock price rose 45 points or 5.33% to Rp890.

Price to Earning Ratio (PER) MYOH reached 6.14 times. Its market capitalization was 1.96 trillion.