JAKARTA. PT Adhi Karya (Persero) Tbk (ADHI), a construction company owned by the Indonesian government, will distribute cash dividends of Rp 66.4 billion, equivalent to 10% of its net profit during FY2019.
Parwanto Noegroho, Corporate Secretary of ADHI, said the distribution of dividends was approved by the company's Annual General Meeting of Shareholders (AGM) held last week. The remaining Rp 597.4 billion was kept as retained earnings.
ADHI has also received approval from shareholders to hold a phase III bond offering in 2020, with a maximum acquisition of Rp 5 trillion. The offering will be carried out in stages from 2020 to 2022.
In addition, ADHI shareholders also agreed on changes in the composition of the company's board of commissioners and directors. One significant change was the dismissal of M Fadjroel Rachman, Spokesman of President Joko Widodo, from the position of President Commissioner. Rachman was replaced by Dody Usodo Hargo, a retired TNI Army officer. (KR/AR)