PT Indofood Sukses Makmur Tbk (IDX: INDF) has signed a conditional share sale and purchase agreement to bought its unit shares, PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP) from Pinehill Corpora Ltd., and Steele Lake Ltd for US$2.99 billion - Photo: Special

JAKARTA (TheInsiderStories) – PT Indofood Sukses Makmur Tbk (IDX: INDF), an Indonesian multi-national company, allocated Rp7 trillion (US$486.11 million) capital expenditure during 2019, said the company on Wednesday (05/29). The amount lower by 23 percent compared to last year Rp9.1 trillion.

The funds will divided to its subsidiaries, Rp3.9 trillion for PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), Rp1.5 trillion for flour business through PT Bogasari Flour Mills, Rp1.4 trillion to its agriculture business, and Rp200 billion for logistic distribution business. 

“The source of funding is from out cash flow and bank loans. This funds will be used for the expansion of our company’ businesses such as increasing plant capacity and partially channeled to agribusiness to finance plantations that have been planted,” said Indofood’ director Thomas Tjhie after the shareholders meeting on May 29.

Unit of Salim Group targeted single-digit growth on the revenues in this year. Last year, the company’ net income recorded Rp70.19 trillion or grew 4.6 percent compared to previous year.

In 2018, Indofood recorded a net profit of Rp 4.17 trillion or grew slightly 0.24 percent compared to the pior year amounting to Rp 4.16 trillion. The company’ net profit margin also down from 5.93 percent in 2017 to 5.7 percent.

In the Annual and Extraordinary General Meetings on this week, the shareholders of Indofood agreed to allocated 50 percent of net profit for dividend. The total dividends that Indofood distributed to investors worth of Rp2.08 trillion, while ICBP distributed Rp2.29 trillion.

“For this year, our dividend payout ratio is 50 percent, both for Indofood and ICBP. This 50 percent figure is the same as last year, ” adds Tjhie.

Indofood shareholders will receive a dividend of Rp236 per share, including an interim dividend of Rp65 per share paid on Nov. 29, 2018, and the remaining Rp171 per share will be paid on July 8.

Then, ICBP shareholders will get a dividend of Rp195 per share, including an interim dividend of Rp58 per share paid on Nov. 28, 2018. The remaining of Rp137 per share will be paid on July 4, 2019.

US$1: Rp14,400

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