JAKARTA. PT Dharma Polimetal Tbk (DRMA), an automotive component manufacturer, will distribute cash dividend of IDR 98.54 billion that will be taken out of its net profit in 2022.

The plan is in line with the result of the Annual General Shareholders Meeting of DRMA that was held last week. In said meeting, the shareholders agreed to allocate 24.99% of the 2022 net profit as cash dividend.

According to IDNFinancials data, DRMA managed to record a net profit of IDR 394.17 billion in 2022. Then, IDR 1 billion of those is set aside as reserves. After allocating cash dividend and the reserves, the remaining net profit will be utilised as working capital and investment fund.

For the record, DRMA’s net profit in 2022 reportedly increased 87% year-on-year (yoy). In 2021, the company only booked IDR 212.69 billion of net profit. This net profit growth was propelled by its sales that shifted 34% yoy higher to IDR 3.91 trillion.

Irianto Santoso, President Director of DRMA, claimed that the company’s performance growth is an effect of the recovering domestic automotive industry. “Therefore, in 2022, DRMA managed to secure sales growth, which, in turn, leads to net profit growth that surpassed the initial target,” he added. (KR/ZH)