JAKARTA. PT Multistrada Arah Sarana Tbk (MASA), an automotive tyre manufacturer, announces the distribution of dividend worth IDR 284.67 billion taken out of its net profit in 2022.

The management of MASA said that this plan is in accordance with the result of the Annual General Meeting of Shareholders (AGMS) held a couple of days ago. In this meeting, the shareholders agreed to allocate 34% of the 2022 net profit as cash dividend.

According to IDNFinancials data, MASA posted USD 52.91 million of net profit in 2022, which is equivalent to approximately IDR 828 billion in 2022. Then, another IDR 8.29 billion of the profit goes to other reserves, leaving the remainder recorded as retained earnings.

The cash dividend will be given to MASA's rightful investors whose names have been registered by the recording date on June 23. Each share is entitled to the cash dividend of IDR 32, which will be disbursed on July 14.

As of now, 99.64% of MASA is under the control of Compagnie Generale DesEtablissement Michelin, leaving just 0.36% to public investors. (KR/ZH)