Midi Utama, Manager Of Alfamidi Owned By The Conglomerate Djoko Susanto, Distributes IDR 60.97 Billion Dividends

Djoko Susanto Conglomerate. (Photo: Doc. Forbes)

JAKARTA - The retail company PT Midi Utama Indonesia Tbk is committed to distributing dividends to its shareholders. The amount of dividends that will be disbursed by the Afamidi manager is IDR 60.97 billion.

Director of Finance and CoIDRorate Secretary of Midi Utama Indonesia Suantopo Po in a public expose, Thursday, May 6, said that the General Meeting of Shareholders (GMS) of the company owned by conglomerate Djoko Susanto decided to use 30 percent of 2020 net profit as dividends.

"The dividend will be distributed on June 9, 2021. The dividend will be distributed at IDR 20.85 per share or a total of IDR 60.97 billion", said Suantopo.

For information, the issuer coded as MIDI shares posted an increase in revenue of 8.89 percent to IDR 12.65 trillion in 2020, an increase compared to 2019 which was valued at IDR 11.62 trillion.

Meanwhile, profit for the year attributable to owners of the parent company decreased slightly by 1.15 percent on an annual basis (YoY) to IDR 200.72 billion in 2020.

In terms of revenue contributors, it was noted that all lines recorded an increase. Food income grew 7.16 percent YoY to IDR7.24 trillion and fresh food grew 8.34 percent YoY to IDR 1.66 trillion.

Meanwhile, revenue from the non-food line rose even higher by 12.67 percent YoY to IDR3.74 trillion. Meanwhile, the assets of the manager of Alfamidi and Lawson outlets rose 18.70 percent to IDR5.92 trillion at the end of 2020 compared to the end of 2019 valued at IDR4.99 trillion.

Liabilities grew 20.04 percent YoY to IDR4.52 trillion while equity only increased by 14.55 percent YoY to IDR 1.22 trillion.

The controlling shareholder of Midi Utama Indonesia is PT Sumber Alfaria Trijaya Tbk (AMRT) with 86.72 percent ownership. AMRT itself is a retailer owned by the conglomerate Djoko Susanto, Forbes' 2020 number 19 richest person in Indonesia with a wealth of 1.45 billion US dollars (around IDR 21 trillion).