Garudafood Will Distribute Dividends Of IDR 331.92 Billion

Photo: Doc. Antara

JAKARTA - PT Garudafood Putra Putri Jaya Tbk (Garudafood) agreed to distribute dividends of IDR 331.92 billion or IDR 9 per share.

The dividend, which includes 57.19 percent of the 2023 financial year's profit, will be distributed in cash on May 21, 2024, to all shareholders registered with Shareholders on May 15, 2024.

"Based on the results of the AGMS, it is Rp. 9 per share or around Rp. 331.92 billion or about 57.19 percent of the profit for the 2023 financial year attributable to the parent owner, designated as cash dividends for the 2023 financial year," said Garudafood President Director Hardianto Atmadja in a written statement in Jakarta, quoted from Antara, Thursday, May 2.

Hardianto said the dividend distribution had certainly taken into account the projected growth of the company's business as well as the anticipation of risks that might occur in the future.

At this Annual General Meeting of Shareholders (AGMS), the company announced a positive performance throughout 2023 which managed to record a net profit attributable to owners of the parent entity of IDR 580.41 billion, an increase of 36.5 percent compared to the previous year.

Hardianto said the profit was the highest achievement in the history of the company.

The growth in net profit attributable to owners of the parent entity is supported by several factors including managing operational costs properly, such as the cost of raw materials for production, packaging materials and logistics costs.

The Garudafood 2024 EGMS discussed a number of agendas, such as the addition of Garudafood's main business activities, namely the Baby Food Industry, the addition of the main business activities of Garudafood subsidiaries, namely PT Sinarniaga Sejahtera (SNS) in the field of Trade. Large Traditional Medicines (PBOT) for Human and Large Trade of Pharmaceutical Drugs (PBOF) for Humans, as well as the repurchase of Garudafood shares that have been issued and recorded on the Indonesia Stock Exchange (IDX) amounting to Rp20 billion.

Garudafood has carefully calculated sustainable business opportunities and Garudafood believes it is able to take advantage of existing opportunities, in order to provide added value to shareholders, said Hardianto.

During 2023, Garudafood has carried out work plans and strategic initiatives in developing its business. The results are reflected in operational and financial performance which continues to grow positively compared to the previous year.

Through public exposure, Garudafood Director Paulus Tedjosutikno said that the company is ready to reprint achievements in 2024 amid existing challenges, such as volatility in the prices of raw materials and energy influenced by global geopolitical conditions and climate change extremely; regulations that have the potential to hinder the survival of the business world; a slowdown in economic growth that has led to a weakening of public consumption spending; increasing business competition; changes in consumer behavior as well as a transition to new government.

"Garudafood is committed to targeting an increase in the Company's value both in terms of sales and an increase in net profit by the end of 2024 through various strategies and efforts such as focusing on distribution channel expansion, developing new products that are in accordance with customer needs, digitizing logistics, and improving services in the food services sector," said Paulus Tedjosutikno.

In accordance with the slogan 'Leading in Innovation', the Company also emphasizes the realization of innovation both in terms of production, marketing, business processes, procedures, and especially human resources (HR) aimed at expanding market share, increasing customer satisfaction, and managing company operating costs.

Collaboration with stakeholders to produce quality products and innovate is a priority for Garudafood while remaining consistent in managing business risks.

"To meet the expectations of stakeholders who are increasingly aware of the sustainability practice, the implementation of the sustainability program from both environmental, social and governance aspects will also not escape Garudafood's business strategy throughout 2024," he said.