JAKARTA - PT Indah Kiat Pulp & Paper Tbk (INKP) arranges the cash dividend distribution of IDR 273.54 billion for the fiscal year 2022. This amount of dividend is relatively stable compared to the significant increase in its net profit from USD 527.07 million in 2021 to USD 857.51 million in 2022.

In the information disclosure quoted Friday (19/5), Heri Santoso, Corporate Secretary of INKP, said that the dividend allocation had been approved by shareholders earlier this week (16/5). The shareholders meeting, attended by 98.1% of total shareholders, also acknowledged the allocation of consolidated net profit of the fiscal year 2022 of USD 857.51 million.

Then, USD 10 million of the net profit, equivalent to IDR 147.51 billion, is allocated to reserves, leaving USD 18.53 million as cash dividend, or equal to IDR 50 per share. The remaining portion of net profit will be stored as retained earnings.

The dividend allocation was made based on the record of ent profit attributable to the parent entity of USD 857.51 million and total equity of USD 5.60 billion.

In 2022, INKP also distributed dividend of IDR 50 per share, while its retained earnings clocked up to USD 2.53 billion, and total equity reached USD 4.75 billion. (LK/ZH)