JAKARTA. PT Gudang Garam Tbk (GGRM), a tobacco industry issuer with the largest market capitalization, will distribute a cash dividend of IDR 2.3 trillion or IDR 1,200 per share.

Heru Budiman, Corporate Secretary of GGRM, conveyed the plan in accordance with the results of the Annual General Meeting of Shareholders (GMS), which was held on Monday (26/6). At the meeting, shareholders agreed to allocate 83% of net profit for the 2022 fiscall year as cash dividends.

Cash dividends will be given to GGRM shareholders whose names are recorded on the recording date on July 11, 2023. Furthermore, cash dividend payments will be made on July 18, 2023.

According to idnfinancials.com data, GGRM recorded a net profit of IDR 2.78 trillion in the 2022 fiscall year. At the end of the year, the company also had a retained earnings balance of IDR 56.67 trillion and total equity of IDR 57.86 trillion.

According to idnfinancials.com data, currently 69.29% of GGRM shares are controlled by PT Suryaduta Investama. Public investors own 23.78% of the shares, PT Suryamitra Kusuma owns 6.26%, and the rest are owned by a number of directors and commissioners of the company. (KR/LM)