JAKARTA. PT Pan Brothers Tbk (PBRX) admitted that the value of dividends given to shareholders, which is Rp 2 per share, is quite small. This decision to give that amount was taken to maintain the company's financial performance.
According to Anne Patricia Sutanto, Deputy President Director of PBRX, the value of dividends distributed to shareholders does not have to be too large, since PBRX needs to have financial stability for various interests, such as development in a number of sectors.
PBRX believes that large dividends will be worthless if the company must issue a rights issue to obtain additional operational funds. "It's better than if we give more, but (the remaining funds) not enough for development funds that we should issue the rights issue. Investors won't be happy, " said Sutanto on Monday (10/12) to idnfinancials.com.
Sutanto admitted that PBRX's dividend growth was the most valuable, even though it was small in number. For three consecutive years, PBRX only gave dividends worth Rp 2 per share from 2015 to 2017. Meanwhile, in 2013, PBRX only provided dividends worth Rp 1 per share.
This year, as of September, PBRX recorded an operating profit of US $ 30.04 million,10.92% higher than the number recorded during the same period last year. Nonetheless, PBRX said the growth in operating profit would not increase the value to dividends given to shareholders. (KR/AR)