JAKARTA. PT Indonesia Paradise Property Tbk (INPP) will distribute dividends of Rp 11 billion, 16% of the company's 2018 net profit.
INPP Head of Finance & Accounting Taufik Lie said the decision was approved in the company's Annual General Meeting of Shareholders on Friday (21/6). "The amount of dividends is Rp 1 per share," Mr Lie told IDNFinancials.com.
The rest of INPP's' net profit will be used to finance the company's' projects this year. "The remaining profit will be used as retained earnings for our upcoming projects. It will also be included in our 2019 capex (capital expenditure)," said Mr Lie.
In 2018 INPP recorded a net profit of Rp 76.28 billion, down 24.75% from the previous year's net profit of Rp 101.2 billion. The company's 2018 net profit was supported by revenue which reached Rp 770.4 billion. (KR/MS)