JAKARTA. The shareholders of PT Pelat Timah Nusantara Tbk (NIKL) or Latinusa, will not receive dividends from the company's profit in 2019, since all of their net profit would be used to cover accumulated losses from previous years.
This decision was approved by NIKL's Annual General Meeting of Shareholders (AGMS). In this meeting, the shareholders agreed to allocate its net profit (US$ 2.58 million) as retained earnings.
According to idnfinancials.com data, NIKL's profit balance was recorded at minus US $ 39.52 million at the end of 2018. With net profit of US$ 2.68 million, the company's profit balance can be cut by 9.95% to US$ 36.93 million.
As of the end of March 2020, 35% of NIKL's shares were owned by Nippon Steel Corporation. Then PT Krakatau Steel (Persero) Tbk (KRAS) held 20.10% of shares, PT Asabri (Persero) held 10.31%, Mitsui & Co. Ltd. 10%, Nippon Steel Trading Corporation held 5%, Metal One Corporation held 5%, and the public held 14.55%. (KR/AR)