Good News For Barito Pacific Shareholders! The Company Owned By The Prajogo Pangestu Conglomerate Is Ready To Pay A Dividend Of 20 Million US Dollars

Barito Pacific AGMS. (Photo: Doc. Barito Pacific)

JAKARTA - The puzzle about the dividend amount of PT Barito Pacific Tbk (BRPT) for 2021 net profit has been answered. Through the annual general meeting of shareholders (AGM), the company will distribute cash dividends of 20 million US dollars, or 18 percent of the company's net profit throughout 2021, worth 109.11 million US dollars.

"According to the results of the company's Annual GMS, the cash dividend is given to the company's shareholders whose names are recorded in the Company's Register of Shareholders on May 24, 2022 (recording date) at 16.00 WIB," said President Director of Barito Pacific Agus Salim Pangestu in a statement, Wednesday 18 May.

In addition, the company's AGMS also decided one percent of the net profit or US$1.1 million for the reserve fund in accordance with Article 70 paragraph 1 of the Company Law.

Meanwhile, the remaining 88.01 million US dollars, equivalent to 81 percent of the 2021 net profit, was allocated as retained earnings to finance the company's future business activities.

On the same occasion, the company belonging to the conglomerate Prajogo Pangestu also announced the company's performance in the first quarter of 2022. During this period, consolidated revenue grew 12 percent to 813 million dollars and consolidated EBITDA of 134 million US dollars.

“Our 3M-2022 financial results reflect a solid performance despite the turmoil in the energy market driven by the Russia-Ukraine conflict. Our subsidiary, Chandra Asri, remains prepared to go through this petrochemical market cycle; While Star Energy, our subsidiary in the Geothermal Power Generation sector, also continues to provide stability to our consolidated financial figures," Agus said. According to him, the spike in crude oil prices was due to geopolitical tensions between Russia and Ukraine and tightening petrochemical margins due to weak demand in China. The weakening led to a tightening of margins in the company's petrochemical segment, especially polyolefins.

"Despite these challenging conditions, in the first quarter of 2022, we continued to generate positive consolidated net profit after tax of USD 30 million during the period," said Agus.

For the company's total assets for the period of 9.31 billion US dollars compared to the end of 2021 of 9.24 billion US dollars, slightly higher with a cash position of 1,649 million US dollars, most of which came from the successful rights issue in Indonesia. subsidiary, namely Chandra Asri.

The total liabilities were 4.98 billion US dollars as of 31 March 2022 compared to last year's 4.97 billion US dollars.