Barito Pacific Owned By Conglomerate Prajogo Pangestu Will Hold AGM May 10, How Much Dividend To Be Paid From IDR 1.56 Trillion Profit To Shareholders?

JAKARTA - Prajogo Pangestu's company, PT Barito Pacific Tbk (BRPT) summoned shareholders to hold the Annual and Extraordinary General Meeting of Shareholders (AGMS/EGMS).

In the disclosure of company information on the Indonesia Stock Exchange (IDX), which was quoted on Wednesday 20 April, Barito Pacific will hold an AGMS on Wednesday, 11 May 2022 in Jakarta. Some of the agenda items that can be observed include the approval of the use of the company's net profit for the 2021 financial year.

In 2021, BRPT will reap a net profit of US$109.1 million or IDR 1.56 trillion. This achievement is up 157.7 percent from the achievement in 2020.

The soaring profit was due to an increase in revenue to USD 3.1 billion in 2021. This revenue was up 35.18 percent from 2020 of USD 2.33 billion.

The company's revenue was largely supported by domestic petrochemical sales to third parties of 1.89 billion US dollars in 2021, an increase of 48.7 percent from 1.27 billion US dollars compared to the previous year.

Regarding the possibility of distributing dividends, in May 2021, BRPT will also distribute dividends worth IDR 259.9 billion or equivalent to 50 percent of the company's profit. In 2020, BRPT was absent from distributing dividends for the 2019 financial year

"The company will also request approval for changes in the composition of the company's board of directors and board of commissioners in connection with the expiration of the term of office, and the reappointment of the company's directors and board of commissioners for the period 2022-2025," BRPT management wrote in an official statement.

In addition, the BRPT will also report on the realization of the use of proceeds from the exercise of warrants and a report on the realization of the use of proceeds from the Barito Pacific II Sustainable Public Offering Phase I 2021 and Phase II 2022.