PP Presisi Distributes Rp7.7 Billion Cash Dividend

Photo: Doc. PP Precision

JAKARTA - In the midst of the ongoing COVID-19 pandemic and its impact on all industrial sectors, PT PP Presisi Tbk (PPRE) continues to distribute cash dividends of IDR 7.7 billion or 10 percent of the net profit attributable to owners of the parent entity of IDR 77 billion.

"Each shareholder will receive a cash dividend of IDR 0.76 per share. Although the amount of dividends distributed has decreased from last year, we will still distribute cash dividends in the midst of the pandemic situation, as a form of our commitment to increase shareholder value," said Benny Pidakso. , Finance Director of PP Presisi after the GMS, quoted on Wednesday 20 April.

Benny added that dividends were distributed after being deducted by 5 percent or Rp. 3.5 billion as a mandatory reserve, a total of Rp. 59.4 billion or 85. percent was allocated as retained earnings to strengthen the capital structure which was very much needed in the midst of the COVID-19 pandemic crisis.

In addition to deciding the distribution of cash dividends, the PPRE Annual GMS also made several other decisions. Among others, approving changes to the composition of the Board of Commissioners and the Board of Directors as of the closing of this GMS, for a term of office of 5 years and at the same time determining the nomenclature of the Board of Directors.

"Thanks to the sustainability growth strategy, the company has succeeded in facing the challenges of the COVID-19 pandemic and optimizing the company's revenue through a new business line, namely nickel mining, implementing a partnership strategy related to the procurement of heavy equipment and spare parts, optimizing heavy equipment occupancy and implementing good cost leadership," said Rully. Noviandar, President Director of PT PP Presisi Tbk on the same occasion.

"The development of mining services is part of our strategy to get recurring income with contract income for the long term and to increase the company's competitiveness and positioning as the main contractor in construction and mining services," concluded Rully.