JABAR EKSPRES – PT IMC Pelita Logistik Tbk (PSSI) approved the distribution of cash dividends totaling IDR 261 billion or 41 percent of its net profit for the fiscal year 2022 through its annual general meeting of shareholders (AGM).
The value was obtained from a cash dividend amount of IDR 50 per share, up 77 percent from the previous year’s dividend payment of IDR 28 per share. Shareholders entitled to receive cash dividends are those registered on June 16, 2023 at 16:00 WIB. Payment will be made no later than July 5, 2023.
“The dividend distribution shows PSSI good financial performance in 2022,” PSSI Board of Directors said in an official statement in Jakarta, Friday.
The company recorded an increase in operating income by 10 percent year-on-year (yoy) to 119.3 million US dollars. Meanwhile, net profit rose 69 percent yoy to 42 million US dollars.
The AGM also approved the use of 54 percent of net profit to be recorded as retained earnings. The value is around 22.7 million US dollars or equivalent to Rp338 billion.
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Then, around 5 percent of net profit is designated as the company’s reserve fund, in accordance with Article 70 Paragraph 1 of the Limited Liability Company Law. The value of the reserve fund is around 2.1 million US dollars or equivalent to Rp31 billion.
The GMS also approved the company’s annual report, including the company’s activity report, the board of commissioners’ supervisory duty report, as well as the ratification of the company’s financial statements for the fiscal year 2022 with unmodified income.
On the other hand, the company plans to expand its business into other logistics fields. The plan is in line with the company’s healthy financial condition and lower liability ratio.
The plan to expand the business into logistics was discussed at an extraordinary GMS held after the annual GMS. The meeting approved the addition of the company’s business activities that have not been listed in the articles of association, namely the business of Supporting Other Mining and Quarrying (KBLI 0990) and Warehousing and Other Storage (KBLI 52109).
