JAKARTA. PT Pelita Samudera Shipping Indonesia Tbk (PSSI) will distribute US$ 4.2 million in cash dividends, or around 30% of its total net profit in 2018.
Imelda Agustina Kiagoes, Corporate Secretary of PSSI, said that the company had distributed interim dividends in November last year. "This distribution of dividends is the second one (from the net profit) in 2018 financial year, after the distribution of interim dividends of Rp 5 per share which was held on 30 November 2018," Imelda said on Monday (27/5) to idnfinancials.com in writing.
Imelda added that the dividend distribution had been approved by the company's Annual General Meeting of Shareholders (AGMS). "The entire agenda has been approved by the shareholders," said Imelda.
In addition, PSSI will use part of its net profit from 2018 for reserve funds and retained earnings. The amount of reserve funds agreed upon at the AGMS was US$ 708,000, while the amount of retained earnings was set at US$ 9.1 million.
In its annual report, PSSI's net profit in 2018 was recorded at US$ 14.01 million. The achievement was supported by the performance of operating revenue which reached US$ 63.56 million. PSSI's Net Profit Margin (NPM) was recorded to improve to 12.2% in 2018, from 8.0% recorded in the previous year. (KR/AR)