JAKARTA. PT Sarimelati Kencana Tbk (PZZA) arranges a cash dividend distribution of IDR 66 billion to its stockholders despite its IDR 93.51 billion loss in financial performance last year.
Kurniadi Sulistyomo, the Corporate Secretary of Sarimelati Kencana, assured that the said plan had gained approval during the Annual General Shareholders Meeting held on May 24, 2021. Due to its failure to score a net profit in 2020, the company would use its retained earnings for the dividend.
Based on idnfinancials.com data, the total balance of PZZA’s retained earnings in December 2020 was IDR 275.67 billion. It indicates that the total dividend to be distributed is equal to 23.92% of its retained earnings.
The management has set the cum date in the regular and negotiation market on May 31, 2021, while the date for the cash market would be June 3, 2021. The dividend payment would follow on June 21, 2021.
As of December 2020, 65.15% of PZZA was still under PT Sriboga Raturaya. Another 7,04% belonged to Scottish Oriental Smaller Companies Trust Plc., and 5.59% to Albizia ASEAN Opportunities Fund. The remaining 22.22% was distributed among public investors. (KR/ZH)