Good News From Manoj Punjabi, MD Pictures Wants To Divide Rp100 Billion Dividend Due To Profit Growing 123 Percent

MD Pictures President Director, Manoj Punjabi. (Photo: Doc. Antara)

JAKARTA - PT MD Pictures Tbk will distribute blessings to its shareholders. The company codenamed FILM will distribute dividends for the 2020 financial year of Rp. 100 billion after not distributing dividends in the previous year.

The decision was also agreed at the Annual and Extraordinary General Meeting of Shareholders (AGMS & RUSLB) which was held on 19 August 2021. MD Pictures President Director Manoj Punjabi said the dividend distribution was a form of the company's commitment to shareholders.

"As a commitment of MD Pictures in creating added value for shareholders, the AGMS approved the payment of a dividend of Rp100 billion this year. With this, we hope that the shareholders will continue to provide their support," said Manoj in an official statement, quoted Monday, August 23.

The dividend distribution is also inseparable from the performance of this production house which is growing positively. MD Pictures' revenue doubled from Rp56.8 billion in the first semester of 2020 to Rp126.4 billion in the same period in 2021 or grew by 123 percent on an annual basis.

The main contributor to this sales figure is the film category, which accounts for 89.3 percent of total sales, which this semester was recorded at Rp112.8 billion or grew 165.4 percent compared to Rp42.5 billion in the previous year.

The film category consists of revenue from digital, cinema films, and television. Other sales contributors are building rentals and shooting equipment rentals.