JAKARTA. PT Fast Food Indonesia (FAST), the Kentucky Fried Chicken (KFC) managing company in Indonesia, refrains from giving out cash dividends after suffering from a loss of up to IDR 377.18 billion in the fiscal year 2020.
This decision was agreed upon during the Annual General Shareholders Meeting on Thursday (19/8) in Jakarta. The agreement was reached by voting, joined by 99.99% of FAST’s shareholders.
As a matter of fact, FAST still holds a sufficient amount of profit. According to idnfinancials.com data, as of December 31, 2020, the company directed IDR 15.93 billion of the profit to the reserved funds. Thus, it left FAST with an unrestricted profit balance of IDR 1.03 trillion.
For the record, back in 2020, FAST also abstained from distributing cash dividends. Instead, it followed the shareholders’ decision to allocate the net profit gained in the fiscal year 2019 to the retained earnings.
Until March 31, 2021, PT Gelael Pratama is still reported owning 39.845 of FAST. PT Indoritel Makmur Internasional Tbk (DNET) closely follows with 35.84%, public investors 24.24%, and the remaining 0.08% is stored as treasury stock. (KR/ZH)