JAKARTA - Milk and yogurt producer owned by conglomerate Bambang Sutantio, PT Cisarua Mountain Dairy Tbk (CMRY) alias Cimory will distribute dividends from net profit for the 2021 financial year. The dividend value to be distributed will reach Rp500 billion.
This decision was agreed at the Annual General Meeting of Shareholders (AGMS) which was held today, Thursday 9 June. Cimory's Chief Financial Officer, Bharat Joshi, said the dividend amount was equivalent to 63.27 percent of the current year's 2021 profit of IDR 790.22 billion or equivalent to IDR 63.01 per share.
"Dividends will be distributed proportionally to the company's shareholders whose names are registered in the shareholder register on June 21, 2022," said Bharat Joshi.
In addition to the decision to use net income for dividends, the AGMS of this Cimory brand of milk and yogurt producer also allocated Rp15.86 billion as a reserve fund. Meanwhile, the remaining profit will be added to retained earnings for the development of business activities.
For information, CMRY recorded an increase in profit for the year by 346 percent from Rp. 177 billion in 2020 to Rp. 790 billion in 2021. The increase in Cimory's profit was inseparable from sales growth which reached 120 percent on an annual basis, from Rp. 1.86 trillion in 2020 to Rp. 4.09 trillion in 2021.
President Director of Cimory Group Farell Sutantio said the significant net profit growth was supported by an increase in sales contribution from the dairy segment or dairy products and consumer foods.
The dairy segment recorded a sales increase of 120 percent from IDR 1.20 trillion in 2020 to IDR 2.65 trillion in 2021. Meanwhile, the consumer food segment recorded a 119 percent growth from IDR 659.42 billion to IDR 1.44 trillion.
Farell said Cimory will continue its efforts to launch innovative food products and expand distribution channels as well as invest in cold chain logistics.
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