JAKARTA. PT Argha Karya Prima Industry Tbk (AKPI) will distribute cash dividends of Rp. 7.35 billion, or around 11.44% of the company's total net profit in 2018.
Based on the disclosure of information on the Indonesia Stock Exchange, AKPI generated a net profit of Rp 64.24 billion in 2018. On Wednesday (22/5), the company's Annual General Meeting of Shareholders (AGMS) approved the dividend distribution plan, stipulated reserve funds and retained earnings.
Rp 2.5 billion of the company's net profit was allocated as reserve funds. "The rest is recorded as retained earnings, to support the company's activities," said the company through a written statement.
When compared to the previous year, AKPI's net profit in 2018 grew by 381.55%, from Rp. 13.34 billion in 2017 to 64.24 billion. This achievement was supported by the company's net sales performance which reached Rp 2.39 trillion. (KR/AR)