Under the Indonesian law, dividend payments are decided by a resolution at the Annual General Meeting of Shareholders (AGMS) or general meeting of shareholders based on the recommendation from the Board of Directors.
The Company may declare dividends in any year as long as the Company has positive retained earnings.
Our policy is to pay dividend at a rate of up to 50% of our consolidated net income for the year after provisioning all statutory reserves. The dividend rate and the Company’s ability to pay dividends in the future will be subject to the cash flow, future retained earnings, financial condition, working capital requirements and investment plans, as well as retulatory restrictions and other requirements. Dividends are paid in Rupiahs.
Shareholders recorded on the applicable dates will be entitled to full dividend amount approved, subject to prevailing Indonesian tax regulations. Dividends paid to non Indonesian resident shareholders will be subject to 20% Indonesian withholding tax or a lower rate based on tax treaties.
|For The Financial Year||2015||2016*||2017*||2018||2019|
|Net income (loss) in thousands US$||(8,386)||9,185||46,540||(492)||(4,558)|
|Dividend per Share||IDR. 35||IDR. 18||IDR. 12||-||-|
|Dividend Payout Ratio||N/A||0.49||0.06||-||-|
|Payment||July 2016||June 2017||June 2018||-||-|
* After restatement for implementation of Indonesian Financial Accounting Standard (PSAK) No. 69 "Agriculture".