JAKARTA. PT IMC Pelita Logistik Tbk (PSSI) will channel out cash dividend of IDR 261 billion or IDR 50 per share that will be taken out of the net profit in the fiscal year 2022.

This plan aligns well with the Annual General Shareholders Meeting held last Wednesday (7/6). In said meeting, the shareholders agreed to allocate 41% of the 2022 net profit as cash dividend.

The management of PSSI mentioned that this upcoming round of dividend distribution carries the highest amount of dividend in its history. The dividend per share was 77% higher than the dividend allocation last year, in which PSSI only gave out IDR 28 per share.

“The dividend distribution indicates good financial performance in 2022,” the management of PSSI mentioned in the official disclosure.

The cash dividend will be given to PSSI’s shareholders whose names have entered the official register by the recording date on June 16, 2023. The payment will be made on July 5, 2023.

According to IDNFinancials data, PSSI posted net profit of USD 42 million. Then, approximately 54% of the net profit, amounting to USD 22.6 million, will be stored as retained earnings, while another USD 2.1 million is saved as reserve funds.

It is worth mentioning that PSSI had gained approval from its shareholders regarding future business expansion plan. The company had also secured approval to carry out 2 new business lines, including Mining Supporting Business and Other Drilling Activities (KBLI 0990), as well as Warehousing and Other Storages (KBLI 52109). (KR/ZH)