JAKARTA – PT Pudjiadi Prestige Tbk (PUDP), a hotel and property manager, revealed plans to pay dividends with a fantastic amount for the 2022 financial year, reaching around IDR 65 billion or IDR 200 per share at the end of June 2023.

PUDP did post a significant jump in net profit in 2022, rising by 1,673.3% year-on-year (yoy) to IDR 279 billion. Based on the presentation of PUDP's board of directors at the company's Annual General Meeting of Shareholders (AGMS) today (31/5), the increase in net profit cannot be separated from the contribution from the sale of its inventory, which in turn strengthens the company's cash flow

After posting a fantastic performance in 2022, PUDP has paid off its bank debts, including debts to PT Bank Central Asia Tbk (BCA), PT Bank Mandiri (Persero) Tbk (BMRI), and PT Bank CIMB Niaga Tbk (CIMB). "So that in 2023, we are ready to expand," continued Kosmian Pudjiadi, President Commissioner of PUDP.

Then, the dividend amount of IDR 200 per share prepared by the company will be distributed to holders of 329,560,000 shares on June 23, 2023. In other words, PUDP allocates around 23% of 2022 net profit, equivalent to IDR 65 billion, as dividends. The AGMS also approved an allocation of IDR 3 billion from 2022 net profit as a reserve fund, and kept the rest as retained earnings to strengthen working capital and business development.

Dividends will be distributed to officially registered shareholders per recording date which falls on June 14. Cum and ex dividends on the regular market and negotiations have been set for 12-13 June 2023, followed by cum and ex dividends on the cash market on 14-15 June 2023.

Please note, this dividend amount is the highest PUDP dividend since the company went public in 1994. In the 2017-2019 financial year, PUDP only distributed dividends of IDR 1 per share, which means that this year's dividend is 200 times higher than the last dividend. (ZH/LM)