JAKARTA – PT Multipolar Tbk (MLPL) has chosen not to distribute dividends despite booking a profit in the 2024 financial year. Meanwhile, the company’s unallocated retained earnings continue to accumulate.

According to an information disclosure on Tuesday (2/6), Natalie Lie, Corporate Secretary of MLPL, stated that shareholders had decided against distributing dividends for the 2024 financial year.

“The quorum attendance of the meeting was 59.091%, with 99.7% of that quorum approving no dividend distribution,” she said.

MLPL posted a net profit of IDR 159.19 billion in 2024, a decline of 7.47% from the previous year’s IDR 172.04 billion.

The shareholders’ decision has led to an 11.27% increase in the company’s retained earnings, which now stand at IDR 1.51 trillion.

According to data from IDNFinancials.com, MLPL has not paid any dividends since the 2016 financial year.

Meanwhile, the company’s shares dropped 3.92% to IDR 98 per share at the close of trading on Monday (2/6).

MLPL’s stock opened at IDR 102 per share, which was also the day’s highest price, before falling to a low of IDR 97.

The stock has fallen 10.91% over the past week and 9.26% in the past month. (LK/KR/ZH)