JAKARTA. PT Sumber Tani Agung Resources Tbk (STAA), a recently publicly listed company as of last February, announces its cash dividend distribution of IDR 109.03 billion in total.
Said plan follows the decision made during the Annual General Shareholders Meeting of STAA held a couple of days ago. In this meeting, the shareholders approved the plan to allocate 33% of the net profit scored in 2021 as cash dividends.
Based on idnfinancials.com data, STAA was reported collecting a net profit of IDR 1.08 trillion in 2021. After setting aside some amount for the cash dividend, approximately IDR 218 billion of the net profit went to mandatory reserve funds. Then, the remaining portion is stored as retained earnings to strengthen the working capital structure.
For the record, STAA had channelled interim dividends of IDR 250 billion right after its debut in Indonesia Stock Exchange (IDX). Therefore, with this most recent allocation, the total of final dividend distributed by STAA in the fiscal year 2021 amount to IDR 359 billion.
STAA’s net profit in 2021 indeed proliferated as high as 162.7% compared to the same period in 2020. This massive upturn resulted from the satisfactory revenue performance that reached IDR 5.88 trillion in 2021, 39.6% higher year-on-year (yoy). (KR/ZH)