JAKARTA - Two paper companies belonging to the Sinarmas Group conglomerate Eka Tjipta Widjaja have received approval to share a portion of their net profit in 2021 as dividends for shareholders. The two companies are PT Indah Kiat Pulp & Paper Tbk (INKP) and PT Paper Factory Tjiwi Kimia Tbk (TKIM).
The decision was the result of the company's annual general meeting of shareholders (AGM) which took place on June 10.
In a statement from the company's management, Tuesday, June 14, Indah Kiat, which has a profit of US$527.08 million, will distribute Rp273.55 billion or the equivalent of US$18.81 million for dividends. This amount is equivalent to Rp50 per share.
Meanwhile, 10 million US dollars or equivalent to Rp. 145.44 billion which is part of the net profit is designated as a reserve fund. The rest that is not distributed will be entered as retained earnings.
Likewise Tjiwi Kimia. From a profit of 249.01 million US dollars, as much as Rp. 77.83 billion or 5.35 million US dollars became dividends. This amount is equivalent to IDR 25 per share.
Tjiwi Kimia also set aside 10 million US dollars or Rp. 145.44 billion as a reserve fund and the rest as retained earnings.
Thus, the total dividends to be distributed by the two sister companies will reach Rp351.38 billion.
Based on this decision, Indah Kiat and Tjiwi Kimia's dividends will be distributed on July 14, 2022 to registered shareholders until June 22, 2022.
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