PT Aneka Tambang Tbk (ANTM), or Antam, PT Bukit Asam Tbk (PTBA), and PT Timah Tbk (TINS) are holding their Annual General Meeting of Shareholders (AGMS) on June 12, 2025.

All three companies under the MIND ID umbrella are conducting their AGMS at Hotel Borobudur, Jakarta, but at different times. Antam’s AGMS begins at 1:00 PM WIB, PTBA’s at 2:30 PM WIB, and TINS’s at 4:00 PM WIB.

One of the key agenda items discussed in each meeting is the approval of the net profit allocation for the 2024 fiscal year.

Previously reported, Antam has indicated a more conservative approach in distributing dividends from its 2024 net profit. This is in contrast to the 2023 fiscal year when the company generously allocated 100% of its net earnings as dividends.

Antam’s President Director, Nico D Kanter, stated that last year, the company allocated its entire net income as dividends to the state via the Ministry of State-Owned Enterprises, the company’s majority shareholder.

According to RTI data, Antam, as part of MIND ID, paid a final cash dividend of IDR 128 per share, representing 100% of the company’s 2023 net profit, which amounted to IDR 3 trillion.

Nico also noted that from the dividend paid on June 7, 2024, Antam did not retain any portion, despite being entitled to one based on a certain ratio. “There should have been an allocation set aside to support our growth plans,” he stated.

Antam’s signal to reduce dividend payments from its 2024 attributable net income, which rose 19% year-on-year to IDR 3.6 trillion, reflects the ongoing execution of its various strategic portfolio projects.

PTBA

Meanwhile, Bukit Asam (PTBA), a coal mining company, recorded net income attributable to the owners of the parent entity amounting to IDR 5.1 trillion throughout 2024.

This figure is lower than the IDR 6.1 trillion profit achieved in 2023.

Bukit Asam has consistently distributed dividends annually. For the 2023 fiscal year, the state-owned issuer allocated IDR 4.57 trillion, or 75% of its net income, as dividends. The per-share dividend was IDR 397.12.

In the 2022 fiscal year, PTBA distributed IDR 12.67 trillion in dividends, equal to 100% of its net profit, with a detailed payout of IDR 1,094 per share.

According to the company’s official website, PTBA has adopted a cash dividend policy of at least 30% of post-tax income, unless otherwise determined by the AGMS.

TINS

PT Timah Tbk (TINS) recorded a net profit of IDR 1.19 trillion in 2024. This marks a significant turnaround from 2023, when the company posted a net loss of IDR 449.7 billion.

The latest dividend distributed by TINS was for the 2023 fiscal year, amounting to IDR 41.95 per share.