JAKARTA. PT Mahkota Group Tbk (MGRO) will distribute cash dividends of Rp. 21.13 billion or around 25% of the net profit obtained by the company in the 2018 fiscal year.
Usli, Managing Director at MGRO, said that the decision had been approved in the company's Annual General Meeting of Shareholders (AGMS) last week. "Every share will get a cash dividend of Rp 6," Usli said.
In addition, the MGRO shareholders meeting also decided to use Rp. 1 billion from 2018 net profit as a reserve fund. While as much as Rp 97.17 billion will be used as retained earnings. "To increase the company's working capital," explained Usli.
MGRO also held an Extraordinary GMS, to seek approval to use 40% of the proceeds from public offerings as working capital loans. The recipients of the loan are MGRO's subsidiaries, namely PT Mutiara Unggul Lestari, PT Intan Sejati Andalan, and PT Berlian Inti Mekar. (KR/AR)