JAKARTA. PT Asuransi Multi Artha Graha Tbk (AMAG), an insurance company which is part of the Panin Group, will distribute a cash dividend of IDR 100 billion.

Peggy Wystan, Director of AMAG, conveyed the plan in accordance with the resolutions of the Annual General Meeting of Shareholders (GMS), which was held last June. At the meeting, shareholders agreed to allocate 58.9% of net profit for the 2022 fiscal year as cash dividends.

Cash dividends will be given to AMAG shareholders whose names are recorded on the recording date on July 7 2023. Cash dividend payments will be made on July 21 2023. Each holder of 1 share of the company will receive a cash dividend of IDR 20.

According to idnfinancials.com data, AMAG posted a net profit of IDR 169.77 billion. At the end of the year the company also had an unappropriated retained earnings balance of IDR 829.4 billion and total equity of IDR 1.7 trillion.

Currently, 80% of AMAG shares are controlled by Fairfax Asia Limited. PT Bank Pan Indonesia Tbk (PNBN) owns as much as 7.76% public investor at 7.76%, and the rest is treasury shares. (KR/LM)