JAKARTA. PT Steel Pipe Industry of Indonesia Tbk (ISSP), the steel pipe manufacturer known as Spindo, will channel out cash dividends of IDR 9 per share or IDR 63.59 billion cumulatively.
This plan will be carried out based on the result of the Annual General Shareholders Meeting of ISSP held last month. In this meeting, the shareholders agreed to spare 13.1% of the 2021 net profit as cash dividends.
Johanes W. Edward, Corporate Secretary of ISSP, added that the dividend will be distributed to the shareholders whose names have entered the list by the recording date that falls on July 12, 2022. Meanwhile, the disbursement itself will take place on August 3, 2022.
According to idnfinancials.com data, ISSP scored a net profit of IDR 486.06 billion in 2021. The company also reported of keeping retained earnings of IDR 1.48 trillion.
In addition to allocating the cash dividends out of the 2021 net profit, ISSP’s shareholders also decided to transfer IDR 10 billion from last year’s net profit to reserve funds. Then, the remaining amount will be added to the retained earnings, solidifying the working capital of the company. (KR/ZH)