JAKARTA. PT Jobubu Jarum Minahasa Tbk (BEER), an alcoholic beverage manufacturer known through the brand Cap Tikus, will channel out cash dividend of IDR 1.64 billion or IDR 0.41 per share. 

Said plan aligns with the result of Annual General Meeting of Shareholders of BEER held last June 19, 2024. In the meeting, shareholders agreed to allocate 10.05% of 2023 net profit as cash dividend. 

In addition, BEER's shareholders also decided to set aside IDR 5 million from its 2023 net profit as reserve finds. The remainder, IDR 14.67 billion, will then be stored as retained earnings to boost working capital of the company.

Throughout 2023, BEER's net profit grew 16.05% year-on-year (yoy), which was in line with the revenue that soared 19.12% yoy to IDR 59.76 billion.

BEER debuted on Indonesia Stock Exchange (IDX) on January 6, 2023, by issuing 800 million shares and raising IDR 176 billion of fresh finds. However, since the beginning of this year, the stock price has been corrected 14% or IDR 42 to IDR 258 per share. (KR/ZH)