JAKARTA. PT Sentul City Tbk (BKSL), a property and real estate developer, once again decided not to distribute dividends despite scoring a net profit of IDR 229 billion in the fiscal year 2021.
In the Annual General Shareholders Meeting held earlier this week, the shareholders approved the plan of allocating the entire net profit to general reserves and capital reinforcement. Specifically, IDR 2 billion of it will be stored as general reserves, leaving the remaining IDR 227 billion to fund the business expansion and strengthen the capital structure.
“Therefore, there are no dividends channelled out to shareholders,” the management of BKSL confirmed in the information disclosure in Indonesia Stock Exchange.
Based on idnfinancials.com record, BKSL has held only one cash dividend distribution ever since it was listed as the member of Indonesia Stock Exchange in 1997. Said dividend distribution took place in 2015, which was taken out of the net profit in the fiscal year 2013, worth IDR 0.25 per share.
For the last five years, BKSL has nearly recorded consecutive net profit gains. However, in 2020, it suffered a devastating loss of IDR 608.78 billion.
Until March 31, 2022, 53.68% of BKSL’s shares was still listed under the possession of PT Sakti Generasi Perdana. Then, Stella Isabella Djohan claimed another 16.76%, leaving public investors with the remaining 30.56%. For the record, Stella Isabella Djohan is also a beneficial owner of BKSL as she is also the major shareholder of Sakti Generasi Perdana. (KR/ZH)