Good News From Garuda Food, Gery And Chocolatos Producer Owned By The Conglomerate Sudhamek Plans To Distribute IDR 131 Billion Dividend

JAKARTA - Snack food producer, PT Garudafood Putra Putri Jaya Tbk will allocate part of the profits to be used as dividends. The company codenamed GOOD will also change the management structure at the Annual General Meeting of Shareholders (AGMS).

In the minutes of the AGMS held on June 16, 2021, the company owned by the conglomerate Sudhamek Agoeng Waspodo Soenjoto will distribute cash dividends of IDR 131.92 billion or IDR 18 per share.

"About 50.85 percent of the profit for the 2020 financial year attributable to the main company owner is designated as cash dividends", Garuda Food management wrote, quoted on Monday, June 21

Based on financial reports as of December 31, 2020, the Garuda peanut producer recorded net sales of IDR 7.71 trillion, down 8.61 percent from the previous year of IDR 8.43 trillion. Furthermore, the profit for the year attributable to owners of the parent company weakened 37.76 percent to IDR 259.41 billion from the previous IDR 416.85 billion.

In addition to allocating profit for dividends, the company also set aside IDR 2 billion for mandatory reserves and the remaining IDR 125.48 billion used as general reserves. The management of Garuda Food also changed the composition of the company's directors and commissioners to be as follows:

Board of Commissioners

President Commissioner: Sudhamek Agoeng Waspodo Soenjoto

Commissioner: Hartono Atmadja

Commissioner: Atiff Ibrahim Gill

Independent Commissioner: Dorodjatun Kuntjoro-Jakti

Independent Commissioner: Guy-Pierre Girin

Board of Directors

President Director: Hardianto Atmadja

Director: Paulus Tedjosutikno

Director: Robert Chandrakelana Adjie

Director: Fransiskus Johny Soegiarto

Director: Johannes Setiadharma

Director: Rudi Eko Hartono.

Garuda Food is engaged in the snack food industry, especially products from nuts, chocolate, and biscuits as well as milk processing. Currently, the Company's activities are in the snack and beverage industry.

Garuda Food's popular products include Kacang Garuda, Pilus Garuda, Gery biscuits, Chocolatos, and Leo. Currently, GarudaFood already has more than 13 thousand employees. They also entered into a joint venture with a Japanese beverage company called Suntory to produce fresh, alcohol-free drinks for the Indonesian market.

Sudhamek himself is the 64th richest person in Indonesia according to Forbes as of December 2020. The 65-year-old man's wealth has reached USD 590 million, or approximately IDR 8.4 trillion.