Bumi pays US$32 million in dividends

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JAKARTA: Publicly listed coal miner PT Bumi Resources (BUMI) announced on Monday that they had paid a total of Rp 297 billion (US$32 million) in dividends last Friday, July 6.

“This represents 15 percent of the 2011 net income and is equivalent to Rp 14.31 per share,” Dileep Srivastava, the company’s corporate secretary, said through a release sent to The Jakarta Post.

The amount of dividends paid off this year is less than one third of what they paid last year, which amounted at US$93.3 million.

By the end of 2011, Bumi earned US$215.1 in net profits, or 6.4 percent higher than figures in 2010 at US$207.1 million.

However, the company saw their net profits nose dive in the first quarter of this year, causing them to sustain a loss worth US$107.16 million. The loss was a sharp contrast to the US$111.2 million in net profits the company gained during the same quarter in 2011.

The company pointed out that the rainy months of January and February caused their production to fall.