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Dividend Policy

Current dividend policy of the Company is to pay dividends to its shareholders in the amount of approximately 40% of the Company’s net income. The dividends will be subject to the Company’s cash flow and investment plans, as well as requirements imposed by the Company’s indebtedness, regulatory restrictions and other requirements.

Under Indonesian law, the decision with regards to dividends is made by a resolution of the shareholders at the Annual General Meeting of Shareholders upon the recommendation of the Board of Directors. The Company may declare dividends in any year if the Company has positive retained earnings and after deduction of reserves fund. The recommendation, amount and payment of dividends by the Board of Directors of the Company and the approval of dividends by the Board of Commissioners of the Company is at their discretion and will depend on a number of factors including the Company’s net profits, availability of mandatory reserves, capital expenditure requirements, results of operations, and cash flows. These, in turn, depend on a variety of factors including successful implementation of the Company’s business strategy, financial, competitive and regulatory considerations, general economic conditions and other factors that may be specific to the Company and its industry. Many of these factors are beyond the Company’s control.

Prior to the end of a financial year, an interim dividend may be distributed so long as it is permitted under the Company’s Articles of Association and provided that the interim dividend does not result in its net assets becoming less than the total issued and paid up capital and the compulsory reserves. Such distribution is determined by the Board of Directors after first being approved by the Board of Commissioners. If, after the end of the relevant financial year, the Company suffers losses, the distributed interim dividend must be returned by the shareholders to the Company, and the Board of Directors and Board of Commissioners will be jointly and severally responsible if the interim dividend is not returned.

To the extent a decision is made to declare dividends, dividends will be paid in Indonesian Rupiah. Shareholders on the applicable recording date will be entitled to the full amount of dividends approved, subject to any Indonesian withholding tax imposed. Dividends received by non-Indonesian shareholders will be subject to 20% Indonesian withholding tax.

Financial Year Dividend/Share
US$ (Rp)
Total Dividend US$ Distribution Date Dividend Payout Ratio
2021 0.000347 (5.14) 30,000,000 21-Jun-2023 20% of Total FY-2021
2021 0.000509 (7.30) 11,000,000 20-May-2022 50% of Total FY-2021
2021 Interim 0.003645 (51.78) 65,000,000 16-Jul-2021
2020 0.002159 (31.60) 38,513,969 4-May-2021 40% Final & 30% Special of Total FY-2020
2019 Interim & Final 0.000369 (5.24) 6,583,901 1-Nov-2019 28% of Total FY-2019
2018 0.00144 (20.68) 25,698,083 14-Jun-2019 30% of Total FY-2018
2018 Interim 0.00162 (23.94) 28,801,917 24-Oct-2018
2017 0.00292 (40.61) 52,121,878 22-May-2018 30% of Total FY-2017
2017 Interim 0.01219 (164.77) 43,478,122 8-Nov-2017
2016 0.03562 (474.25) 117,065,741 23-May-2017 50% of Total FY-2016
2016 Interim 0.01 (132.68) 32,934,259 15-Sep-2016
2015 0.00319 (43.05) 10,500,000 30-Jun-2016 40%
2014 0.00137 (18.29) 4,500,000 10-Jul-2015 25%
2013 0.00079 (9.27) 2,600,000 11-Jul-2014 27%
2012  0 0 - 0
2011  0.0016 (14.5) 5,000,000 02-Nov-2011 62.45%