Two consumer companies belonging to the Salim Group, PT Indofood Sukses Makmur Tbk (IDX: INDF) and its subsidiary PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP) spread dividends totaling of Rp4.62 trillion (US$323.08 million) - Photo by the Company

JAKARTA (TheInsiderStories) – Two consumer companies belonging to the Salim Group, PT Indofood Sukses Makmur Tbk (IDX: INDF) and its subsidiary PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP) spread dividends totaling of Rp4.62 trillion (US$323.08 million). The decision was approved by shareholders at an annual shareholders’ meeting on July 15.

According to the company’ President Director and CEO, Anthoni Salim, the shareholders agreed to distribute dividend pay out ration of Rp2.44 trillion for the net profit in 2019 or Rp278 per share. The dividend amount is equivalent to 50 percent of the company’s net profit in 2019 of Rp4.91 trillion.

Last year, Indofood‘ operating profit grew 8 percent to Rp9.83 trillion from 2018 to Rp 9.14 trillion. While net profit increased by 18 pesent to Rp 4.91 trillion from 2018 amounting to Rp4.17 trillion. The increase in net profit was supported by the income of the company, which reached Rp76.59 trillion or grew 4 percent compared to revenue in 2018 Rp73.39 trillion.

“The shareholders agreed to distribute a dividend of Rp278 per share and will be paid on August 14, 2020,” Salim said in his official statement yesterday.

On the same occasion, a subsidiary of Infofood which produces instant noodles, ICBP also agreed to distribute dividends of Rp215 per share or 43.22 percent of the company’s net profit last year of Rp5.04 trillion. In 2019, the unit’ net profit rose 10 percent to Rp5.04 trillion from the previous year at Rp4.58 trillion.

This net profit support is in line with the consolidated net sales growth of 10 percent to Rp42.30 trillion last year from the previous year of Rp38.41 trillion. The increase in net profit pushed the net profit margin to be relatively stable at around 11.9 percent, core profit increased 22 percent to Rp5.16 trillion from Rp4.22 trillion.

Salim continued, the company will maintain growth momentum by capturing various opportunities going forward for Indofood CBP. In this information disclosure, ICBP management also announced the postponement of the Extraordinary General Meeting of Shareholders which was originally to be held yesterday.

The delay is related to the company which is still required by the Financial Services Authority to announce changes or additional information to shareholders regarding the planned acquisition transaction for all Pinehill Company Limited shares. This food producer is indeed in the process of acquiring the full Pinehill shares owned by Pinehill Corpora worth $2.99 billion.

US$1: Rp14,300

Written by Editorial Staff, Email: theinsiderstories@gmail.com