JAKARTA. PT Provident Agro Tbk (PALM) will distribute cash dividends of Rp 233.5 billion (Rp 33 per share), taken from its net profit in 2019.
Lim Na Lie, Corporate Secretary of PALM, explained that the plan had been approved by from the company's shareholders during their Annual General Meeting of Shareholders (AGMS) held on 21 October 2020. "The cash dividend is taken from our retained earnings," said Lie in a disclosure on the Indonesia Stock Exchange (IDX) today.
For the record, PALM had Rp 346.98 billion in profit balance at the end of March 2020, including Rp 6 billion of general reserve funds.
PALM management has not announced the cum dividend date and the dividend payment date. However, the company's shareholders have authorized the board of directors to determine the dividend payment mechanism. (KR/AR)