JAKARTA. PT Perusahaan Perkebunan London Sumatra Indonesia Tbk's (LSIP) has decided to pay a dividend of Rp 15 per share for the 2019 fiscal year.
The AGM, held on Thursday (16/7), decided to use Rp 102,299,000,000 of its 2019 net profit amounting to Rp 253,902,000,000 as a dividend to be paid to shareholders at Rp 15 per share.
The AGM also decided to allocate Rp 5 billion of the company's net profit as a reserve fund, while the rest will be kept as retained earnings.
London Sumatra primarily operates palm plantations in North Sumatra, South Sumatra, and Kalimantan; the company also owns rubber plantations and engages in palm nursery. As the global economy weakened in 2019, the company's sales slipped 8.1% year on year (yoy) to Rp 3.7 trillion due to falling selling prices, which also resulted in its profit for the year declining 23.3% to Rp 252.6 billion. (AM)