JAKARTA. PT Indonesia Fibreboard Industry Tbk (IFII) will distribute cash dividend of IDR 47.06 billion or IDR 5 per share taken out of its net profit of 2023.

Evan Kristian, Corporate Secretary of IFII, said that this plan follows the decision made during the Annual General Meeting of Shareholders on Friday (7/6). In said meeting, shareholders agreed to allocate 46.7% of its 2023 net profit as cash dividend.

Approximately IDR 1 billion of the net profit was stored as mandatory reserves, while the remaining IDR 52.84 billion is allocated as retained earnings.

Cash dividend will be disbursed to shareholders whose names have been listed by the recording date on June 21, 2024. The payment of this cash dividend is scheduled to take place on July 11, 2024.

According to IDNFinancials data, IFII’s net profit grew 3.9% year-on-year (yoy) in 2023. This profit growth is in line with the revenue performance of the company that reached IDR 986.99 billion, up 13.82% yoy. (KR/ZH)