Vale Indonesia (INCO) to Distribute USD 45.64 Million Dividend
Tue 02 Jun 2026, 16:24 PM
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PT Vale Indonesia Tbk held its Annual General Meeting of Shareholders (AGM) in a hybrid format on Tuesday (2 June 2026).
Shareholders approved all six agenda items, reaffirming the company’s financial discipline, long-term growth commitment, and strong governance stance amid challenging global nickel price dynamics.
For full-year 2025, INCO reported resilient operational performance, posting a 32% increase in net profit to USD 76 million. Revenue rose 4% to USD 990 million, while EBITDA reached USD 228 million. The company also maintained relatively stable cash cost of sales for nickel matte.
During the AGM, shareholders approved a total cash dividend of USD 45,638,211, representing a 60% payout ratio of fiscal year 2025 net profit. The dividend will be distributed to shareholders recorded as of 12 June 2026, with payment scheduled for 26 June 2026.
The remaining net profit will be retained as earnings to support future business development.
On governance matters, the meeting accepted the resignations of Emily Olson as Vice President Commissioner and Christopher McCleave as Commissioner, and expressed appreciation for their contributions during their respective tenures.
Shareholders also approved the appointment of Kristina Gauthier as Vice President Commissioner, Patricia Renee Pegues as Commissioner, and Adam MacMillan as Commissioner.
The board changes reflect INCO’s commitment to strengthening an adaptive and integrity-driven leadership structure capable of navigating the increasingly dynamic critical minerals industry, while ensuring continuity in its transformation agenda and strategic project development.
Following these appointments, INCO’s updated Board of Directors and Board of Commissioners are as follows:
Board of Directors:
- President Director & Chief Executive Officer : Bernardus Irmanto
- Vice President Director & Chief Operation and Infrastructure Officer: Abu Ashar
- Director & Chief Human Capital Officer: Heriyanto Agung Putra
- Director & Chief Sustainability and Corporate Affairs Officer: Budiawansyah
- Director & Chief Financial Officer: Rizky Andhika Putra
- Director & Chief Project Officer: Muhammad Asril
- Director & Chief Strategy and Technical Officer: Slamet Sugiharto
Board of Commissioners:
- President Commissioner: F.S. Multhazar
- Vice President Commissioner: Kristina Gauthier
- Commissioners: Patricia Renee Pegues
- Commissioners: Adam MacMillan
- Commissioners: M. Jasman Panjaitan
- Commissioners: Katherina Anggela Oendun
- Commissioners: Shiro Imai
- Independent Commissioners: Rudiantara
- Independent Commissioners: Retno Marsudi
- Independent Commissioners: Marita Alisjahbana
In addition, in line with past practice, PT Vale Indonesia Tbk proposed delegating authority to the Board of Commissioners—subject to prior recommendations from the company’s Governance, Nomination, and Remuneration Committee—to determine the 2026 financial year honorarium and related compensation policies (excluding honorarium) for members of the Board of Commissioners for fiscal year 2025, as well as the 2026 salaries and benefits for members of the Board of Directors.
Lastly, the AGM approved the appointment of Yusron Fauzan and the public accounting firm Rintis, Jumadi, Rianto & Rekan (a member firm of PricewaterhouseCoopers), registered with Indonesia’s Financial Services Authority (OJK), as independent auditors for the audit of the company’s financial statements for the year ending 31 December 2026, as well as for any other required audit assignments.
President Director and CEO of Vale Indonesia, Bernardus Irmanto, said that despite global industry challenges, INCO had maintained solid operational performance, strengthened profitability, and continued its transformation into a more integrated and sustainable critical minerals mining company.
“The dividends we have approved today, along with progress in our HPAL projects, reflect our confidence in Indonesia’s long-term position as a source of low-carbon, responsibly produced nickel for the global energy transition,” he said in a written statement on Tuesday (2 June 2026).
INCO also reaffirmed its commitment to best-in-class mining practices, responsible downstream development, and long-term value creation for the country and all stakeholders.
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