SCCO - PT. Supreme Cable Manufacturing & Commerce Tbk

Rp 11.375

-250 (-2,20%)

JAKARTA. The Annual General Shareholders Meeting of PT Supreme Cable Manufacturing & Commerce Tbk (SCCO) agreed upon giving out 26% of its net profit in 2021, equal to IDR 61.68 billion, as the cash dividend.

In the said meeting held a couple of days ago, the stakeholders also called for allocating IDR 7 billion of its net profit to the company’s reserve funds. The remaining net profit of IDR 169.21 billion would then be stored as the retained earnings.

The cash dividend would be set for IDR 300 per share and would be distributed on July 8, 2021. The management also had scheduled the cum dividend date for the regular and negotiation market, which would take place on June 16, 2021, followed by the cash market on June 18, 2021.

According to idnfinancials.com, PT Moda Sukma still controls 33.56% of SCCO’s shares in March 2021. Another 29.67% belongs to PT Tutulan Sukma, 11.81% to Furukawa Electric Co Ltd., Japan, and the remaining 24.96% is dispersed among public investors.

SCCO is the cable manufacturer with the highest market capitalisation level in Indonesia. Its Earning per Share (EPS) is successfully maintained at 288 while other companies’ are below 100. (KR/ZH)