Good News From Conglomerate-Owned Subsidiaries Edwin Soeryadjaya And Sandiaga Uno, They Want To Divide Dividends Of IDR 304.26 Billion

Conglomerate Edwin Soeryadjaya together with Sandiaga Uno. (Photo: Instagram @sandiuno)

JAKARTA - A subsidiary of the Saratoga Group owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Provident Agro Tbk (PALM) will distribute dividends of IDR 304.26 billion. Let's see the details and schedule!

In PALM's official statement, quoted on Thursday, January 20, the shareholders approved the dividend distribution of IDR 304 billion of retained earnings that have not been used for IDR 2.97 trillion in 2020. Thus, shareholders will receive dividends of IDR 43 per share.

Previously, PALM stated that the controlling shareholder of the Saratoga Group would not take any particular action. Provident Agro's Corporate Secretary Lim Na Lie stated that the two controllers, namely PT Saratoga Sentra Business and PT Provident Capital Indonesia, did not yet have any specific plans, especially those related to share ownership in the company.

"We have also communicated to the main shareholders regarding the volatility of the transaction to be taken into consideration in conducting transactions on the shares owned," said Lim.

In addition, Lim confirmed that the company is currently reviewing the provisions of the applicable laws. In connection with PALM's plan to make changes to business activities.

Furthermore, Lim said, his party is currently conducting a study on several business activities in connection with the planned changes. At this time the study is prioritized on changing business activities into investment companies.

Previously, PALM had sold 100 percent of the shares of its subsidiary PT Mutiara Agam (MAG) for IDR 502.5 billion, which has an oil palm plantation in Agam Regency, West Sumatra.

The distribution of cash dividends will be carried out according to the following schedule and procedure:

- Cash Dividend Distribution Schedule Information Cum Dividend Date Regular and Negotiated Market 20 January 2022

- Cum Market Dividend January 24, 2022, Ex Cash Dividend January 21, 2022

- Ex-Dividend Cash Market January 25, 2022

- Recording Date January 24, 2022

- Cash Dividend Payment Date February 8, 2022