Already Divided Interim Dividend Once, Now Matahari Department Store Owned By Conglomerate Mochtar Riady Wants To Distribute Final Dividend Of IDR 250 Per Share

Photo: Doc. Matahari Department Store

JAKARTA - PT Matahari Department Store Tbk (LPPF) plans to hold an Annual General Meeting of Shareholders (AGM) on April 5. One of the agenda is the distribution of a portion of the company's net profit as dividends.

Matahari CFO Niraj Jain said the company is focused on shareholders and is pleased to see shareholders' recognition of Matahari's performance in 2021.

"We hope that the proposed dividend can show our appreciation to all shareholders," Niraj said in a statement quoted Monday, March 14.

Based on the AGM plan, Niraj said, the company proposed a final dividend of IDR 250 per share, before calculating the interim dividend of IDR 100 per share that had been paid in December 2021. "So the total dividend will be IDR 350 per share for the 2021 financial year," said Niraj.

If approved by the AGMS, the final dividend will be paid by the company on 6 May 2022. Shareholders who are registered in the company's shareholder register on 18 April 2022 (recording date) will be entitled to receive dividend payments.

"In the future, management recommends paying dividends of IDR 500 per share for the 2022 financial year," Niraj added.

Previously, Matahari announced gross sales of IDR 10.3 trillion for the full year ending December 31, 2021, 20 percent higher than the previous year. From there, Matahari posted a net income of IDR 5.6 trillion, or grew 15 percent from 2020.

As a result, the company managed to get a profit of IDR 913 billion from the previous net loss of IDR 873 billion in 2020.