Bintang Beer Producers Distribute Dividends Of IDR 1 Trillion, Even Though Their Profits Are Only IDR 285 Billion

Bir Bintang. (Photo: Dok. Beergembira)

JAKARTA - The alcoholic beverage producer PT Multi Bintang Indonesia Tbk will distribute cash dividends worth IDR475 per share for the 2020 financial year. If you look at the monthly securities holder registration reports as of March 2021, the shares with the MLBI code amount to 2.10 billion shares.

As much as 1.72 billion or 81.78 percent held by Heineken International BV. The remaining 383.84 million shares or 18.22 percent are held by the public. Thus, this Bintang Beer producer will pay a total dividend of around IDR1 trillion even though the company's revenue and profit will be eroded in 2020.

"The AGMS also agreed that the final dividend for the 2020 financial year will be paid to the company's shareholders amounting to Rp475 per share," wrote MLBI management in a written statement, Tuesday, April 20.

In 2020, Multi Bintang posted revenues of Rp1.98 trillion or a 46.51 percent drop from the previous year's Rp3.71 trillion. The decline in income also has an impact on the company's net profit.

MLBI's profit in 2020 was eroded 76.30 percent to IDR285.66 billion compared to the previous year's position of IDR1.20 trillion.

Judging from the product group offered by the Heineken-affiliated company, sales of alcoholic products fell 49.84 percent to Rp1.64 trillion.

In 2019, sales of alcoholic products from MLBI reached IDR 3.27 trillion. Meanwhile, sales of non-alcoholic products decreased by at least 21.82 percent annually to IDR344.63 billion from IDR440.87 billion previously.