IMC Pelita Logistics Distributes Dividends Of Up To IDR 261 Billion

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT IMC Pelita Logistics Tbk (PSSI) approved the distribution of cash dividends with a total of IDR 261 billion. This amount is equivalent to 41 percent of the net profit for the 2022 financial year.

This value was obtained from the amount of cash dividends of IDR 50 per share, up 77 percent from the previous year's dividend payment of IDR 28 per share. Shareholders who are entitled to cash dividends are those registered on June 16, 2023 at 16.00 WIB. Payments will be made no later than July 5, 2023.

"Dividend distribution shows PSSI's good financial performance in 2022," said PSSI's Board of Directors quoting Antara.

The company recorded an increase in operating income by 10 percent year-on-year (yoy) to 119.3 million US dollars. Meanwhile, net profit rose 69 percent yoy to 42 million US dollars.

The GMS also approved the use of 54 percent of net profit to be recorded as retained earnings by the company. The value is around 22.7 million US dollars or equivalent to Rp338 billion.

Then, about 5 percent of the net profit is set as the company's reserve fund, in accordance with Article 70 Paragraph 1 of the Limited Liability Company Law. The value of the reserve fund is around 2.1 million US dollars, tau equivalent to Rp31 billion.

The GMS also approved the company's annual report, including reports on the company's activities, reports on the supervisory duties of the board of commissioners, as well as ratification of the company's financial statements for the 2022 financial year with fair income without modification.

On the other hand, the company plans to develop its business into other logistics fields. The plan is in line with the healthy financial condition and the company's lower liabilities ratio.

The plan to expand business into the logistics sector was discussed in an extraordinary GMS which was held after the annual GMS. The meeting approved the addition of the company's business activities that have not been listed in the articles of association, namely the Other Mining and Excavation Supporting Business (KBLI 0990) and Other Warehousing and Storage (KBLI 52109).

In his statement, the Board of Commissioners also supports the company's plan to expand its wings to the logistics sector. The Board of Commissioners believes that the logistics sector is one of the business sectors that has a promising process in line with the increasing needs of the community. Moreover, technological developments make the delivery of goods easier so as to encourage prospects for the logistics sector.