Samindo Share Dividends US $ 18 Million

PT Samindo Resources Tbk (MYOH), an integrated coal mining services provider, distributes dividends worth US $ 18 million for the fiscal year 2017, up 6% from the 2016 book year dividend.

"The amount of dividends paid to shareholders last year amounted to US $ 17 million," said Ahmad Zaki Natsir, Inevstor Relation Samindo after the Annual General Meeting of Shareholders (AGM) in Jakarta, last weekend.

Samindo at the end of 2017 posted a net profit of US $ 12.3 million. This means that Samindo's dividend payout ratio reaches 150% of total net profit booked in 2017. The ratio is much higher compared to the previous period, where the dividend payout ratio is 80% of total net profit of US $ 21.22 million.

Samindo Resources is an investment holding company with core competencies in the provision of coal mining services in terms of wasted removal and coal production, coal hauling and geological mapping and drilling.

As an investment holding company, Samindo runs the four production activities through four subsidiaries, namely PT SIMS Jaya Kaltim, PT Trasindo Murni aperkasa, PT Samindo Utama Kaltim and PT Mintec Abadi.

"The Company will strive to maintain this policy while posting positive earnings, as one of the company's stocks in the capital market," said Zaki.