CGAS AGMS Agrees To Distribute IDR 2.2 Billion Dividend

AGS AGMS (Photo: Maria Trisnawati/VOI)

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Citra Nusantara Gemilang Tbk (CGAS) agreed to distribute dividends of IDR 2.2 billion or IDR 1.25 per share.

President Director of CGAS Andika Purwonugroho said that his party is committed to distributing dividends in accordance with the prospectus before the IPO, which is 30 percent of the company's net profit.

"The maximum distribution profit for dividends is 27.2 percent of the company's profit or IDR 2.2 billion," Andika said at a press conference in Jakarta, Wednesday, May 29.

In terms of financial performance, CGAS recorded a decrease in revenue from 2022 which was recorded at IDR 423 billion to IDR 327 billion in 2023.

CGAS Director Agung Wibawa said the decline in revenue was driven by price structures during sales throughout 2023 as well as regional factors and geopolitical stability.

"Even though there was a decrease in revenue, gross profit still increased by 18 percent. So 2022 to 2023 there was no decrease in gross profit, namely in 2023 it was IDR 73.1 billion," said Agung.

Meanwhile, the company's net profit in 2023 was recorded at IDR 8.5 billion.

Meanwhile, for the first quarter of 2024, CGAS posted revenue of IDR 130 billion.

"This has increased from March 2023 by 96.6 percent. For gross profit in the first quarter of 2023 it was IDR 17.8," he concluded.