Distribute Dividends Of Up To IDR 313.03 Billion, Pakuwon Jati Shareholders Get IDR 6.5 Per Share

JAKARTA - Kasablanka City Mall Manager PT Pakuwon Jati Tbk (PWON) decided to distribute cash dividends worth IDR 313.03 billion. At the Annual General Meeting of Shareholders (AGMS), dividend distribution is equivalent to IDR 6.5 per share.

The dividend distributed by the company is equivalent to 20.34 percent of the net profit for the 2022 financial year of IDR 1.53 trillion, which will be distributed to 48.15 billion outstanding shares.

"This dividend worth IDR 6.5 per share illustrates the commitment to sustainability to PWON's shareholders," said Pakuwon's Director and Corporate Secretary Minarto Basuki quoting Antara.

In addition, in the AGMS, the company determined Rp1 billion from net profit as reserve funds, and the rest entered into capital, aka recorded as retained earnings.

This year, the company has prepared a capital expenditure (capex) budget of IDR 2.4 trillion, of which IDR 1.5 trillion is used for land expansion.

The company will use a budget of IDR 1.5 trillion for the purchase of land on Batam Island, Bali Island, and Central Java Province.

In addition, the company will enter into new projects, including expansion in Surabaya by adding condominiums and increasing the area of malls, as well as building mixed use projects, such as shopping centers, hotels, and housing for expansion in Batam, Central Java, and Bali.

Throughout 2022, Pakuwon Jati recorded revenue of IDR 5.98 trillion, or an increase of 4.79 percent year on year (yoy), from the previous IDR 5.71 trillion in 2021.

The increase in revenue also boosted the company's net profit by 11.30 percent (yoy) to Rp153 trillion during 2022, from the previous Rp1.38 trillion in 2021.

Based on the composition of shareholders as of May 31, 2023, the public controlled 15.08 billion shares of the company, equivalent to 31.32 percent, while the company's controller, Pakuwon Arthaniaga, controlled 68.68 percent.