PT Sawit Sumbermas Ready to Distribute Interim Dividend Worth IDR 710.98 Billion

JAKARTA - Plantation issuer PT Sawit Sumbermas Sarana Tbk (SSMS) is ready to issue an interim dividend of 2022 in line with its positive performance in the first six months of this year.

Chief Financial Officer (CFO) of SSMS Jap Hartono said that the dividend distribution plan was by the decision of the board of directors and was approved by the board of commissioners on September 30, 2022.

"This dividend measure is our commitment to provide added value for all company stakeholders", said Jap in a statement in Jakarta, quoted from Antara, Wednesday, October 5.

Following the provisions for the distribution of dividends, he continued, shareholders will take home an interim dividend of IDR 74.64 per share.

In total, SSMS showed loyalty to its shareholders by distributing funds amounting to IDR 710.98 billion as an interim dividend.

The amount valued at IDR 710.98 billion is equivalent to 70 percent of the total net profit for the current period as of June 30, 2022, which was recorded at IDR 1.01 trillion.

The dividend distribution schedule is cum regular market dividend and negotiated market on October 11, 2022, ex regular and negotiated market dividend on October 12, 2022, cum cash market dividend on 13 October 2022, and ex-cash market dividend on October 14, 2022.

The date of the list of shareholders who are entitled to interim cash dividends is October 13, 2022, at 16.00 WIB and dividend payments are made on October 28, 2022.

The interim dividend distribution is based on financial report data as of June 30, 2022. During that period, the company pocketed a net profit of IDR 1.01 trillion. The balance of profit with an undetermined use allocation is IDR 3.5 trillion, and total equity is IDR 6.33 trillion.

To support the achievement of SSMS in the first semester, namely sales increased by 43.16 percent (YoY) to IDR 3.35 trillion. Meanwhile, SSMS' net profit shot up 45.86 percent to IDR 1.02 trillion.

SSMS targets to be able to achieve crude palm oil (CPO) production growth of around 6 percent to 10 percent by 2022.

Last year, SSMS' CPO production was at the level of 444,720 tons. Thus, SSMS is projected to produce around 471,403 tons of CPO to 489,192 tons this year.