JAKARTA – PT Vale Indonesia Tbk. (INCO) is preparing to host its Annual General Meeting of Shareholders (AGM), featuring a six-point agenda, with a primary focus on the allocation of the company’s 2025 net profit.
According to the official information disclosure, the AGM is scheduled for Tuesday, June 2, 2026, in Jakarta. Participation is reserved for shareholders whose names are recorded in the company’s register by May 4, 2026.
The meeting will begin with the approval of the 2025 annual report, which includes the board of commissioners’ supervisory report and the ratification of the 2025 financial statements. Shareholders will also be asked to grant full release and discharge (acquit et de charge) to the board of directors and commissioners for their managerial performance throughout the 2025 fiscal year.
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The second agenda item involves the distribution of the net profit generated by the company during 2025. INCO posted a net profit of US$76.1 million (approximately IDR 1.27 trillion at an exchange rate of IDR 16,720 per US dollar) for the year, representing a 32% increase compared to the previous year, driven by solid operational performance and effective cost management amid volatile global nickel prices.
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Historical data indicates that for the 2024 fiscal year, INCO distributed dividends totaling US$34.65 million (approximately IDR 573.04 billion). During that period, the company recorded a net profit of US$57.76 million, or IDR 931.33 billion.
The dividend history of INCO has been selective. In 2023, the company opted not to distribute dividends to prioritize funding for three major projects in Sulawesi. A similar decision was made in 2021, where the company reinvested earnings into capital expenditures for projects in Bahodopi, Pomalaa, and Sorowako, as well as future working capital needs.
Conversely, for the 2022 fiscal year, INCO distributed US$60.12 million (about IDR 890.38 billion), equivalent to 30% of its net profit. In 2020, the company paid out US$33 million—40% of its net profit—marking its first dividend distribution in six years, while no dividends were paid for the 2019 fiscal year due to cash flow considerations.
The remaining agenda items for the upcoming AGM include determining the remuneration, salaries, allowances, and bonuses for the board of directors and commissioners for the 2026 fiscal year, the appointment of a public accountant for the 2026 financial audit, and a progress report on the utilization of funds from the 2024 rights issue.
Finally, the company will seek approval for changes to its management structure. Details regarding potential personnel changes have not yet been disclosed.
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Summary
PT Vale Indonesia Tbk. (INCO) will hold its Annual General Meeting of Shareholders (AGM) on June 2, 2026, in Jakarta. The meeting agenda includes the approval of the 2025 financial statements and the determination of the company’s net profit allocation for the 2025 fiscal year, which saw a 32% profit increase to US$76.1 million. Shareholders registered by May 4, 2026, are eligible to participate in the meeting.
Additional agenda items cover the appointment of a public accountant for the 2026 audit, the determination of remuneration for the board of directors and commissioners, and updates on the 2024 rights issue utilization. The company will also address potential changes to its management structure. Historically, INCO’s dividend distribution policy has fluctuated based on capital expenditure needs for major projects in Sulawesi.
