XL Axiata Distributes Rp. 339.4 Billion Dividend, 50 Percent Of Profit In 2020

Board of Directors and Commissioners of XL Axiata. (Photo: Doc. XL Axiata)

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT XL Axiata Tbk (XL Axiata) approved the distribution of dividends amounting to Rp339.4 billion to shareholders. That, equivalent to IDR 31.7 per share.

"This year the Meeting approved the use of 50 percent of the profit after adjusting it to be distributed as dividends to shareholders. The rest of the other profits will be used as a General Reserve Allocation of Rp. 100 million and the rest will be recorded in retained earnings to support the company's business development," he said. President Director & CEO of XL Axiata, Dian Siswarini in a virtual press conference after the 2021 Annual General Meeting of Shareholders (AGMS) in Jakarta, Friday 23 April.

For information, XL Axiata recorded a net profit of IDR 679 billion in the 2020 financial year. XL's revenue has managed to grow to reach IDR 26 trillion, an increase of about 3 percent compared to the previous year.

Dian said, the distribution of dividends to shareholders is equal to 50 percent of the profits after adjustments, changes to the composition of the Board of Commissioners, as well as the addition of the Company's line of business.

2020 itself, according to Dian, is a tough year for all industrial sectors, including the telecommunications industry due to the COVID-19 pandemic. However, amidst the pandemic and the tough challenges it faces, the company is still able to distribute dividends to shareholders.

In addition, the Meeting also agreed to grant full release and discharge of responsibility to members of the company's board of directors for management actions and members of the Board of Commissioners of the Company for supervisory actions that have been carried out in the financial year ending on December 31, 2020.

"As long as these actions are reflected in the Annual Report and recorded in the Company's Financial Statements and are not a criminal act or a violation of the provisions of the prevailing laws and regulations," he said.

During the meeting, he also accepted the resignation and gave full release and discharge of responsibility to Tan Sri Jamaludin bin Ibrahim as a member of the Company's Commissioner.

With the acceptance of the resignation, the members of the Board of Commissioners of the Company as of the closing of this Meeting are the President Commissioner (Muhamad Chatib Basri), the Commissioner (Vivek Sood, David R. Dean, Dato 'Mohd Izzaddin bin Idris, Hans Wijayasuriya), and Independent Commissioners (Yasmin Stamboel Wirjawan, Muliadi Rahardja, and Julianto Sidarto).