JAKARTA – PT Dharma Satya Nusantara Tbk (DSNG) plans to distribute a cash dividend of IDR 254 billion for the 2024 financial year, equivalent to IDR 24 per share.

The decision was approved at the Annual General Meeting of Shareholders (AGMS) held at Harris Hotel & Conventions Kelapa Gading, Jakarta, on Thursday (5/6).

“The dividend will be distributed to shareholders in accordance with applicable laws and regulations,” said Beni Wijaya, Corporate Communications of DSNG, during an online public presentation on Thursday (5/6).

Beni added that the company would not allocate funds to statutory reserves as the company’s mandatory reserve fund has already reached the minimum amount required by regulations.

“The remaining net profit will be booked as retained earnings and used to strengthen working capital and investment,” he said.

Compared to the previous year, the dividend distribution for the 2024 financial year has seen a slight increase.

In 2023, DSNG approved a cash dividend of IDR 22 per share. At that time, the company’s net profit had declined to IDR 839.8 billion in 2023.

According to data from IDNFinancials.com, DSNG’s revenue grew 6.5% year-on-year to IDR 10.12 trillion in 2024.

This growth was driven by a 12.3% increase in the average selling price of crude palm oil (CPO), despite a 9% drop in CPO production volume to 602 thousand tonnes, due to the prolonged impact of the El Niño phenomenon.

Alongside revenue, DSNG also recorded a 35.6% increase in net profit to IDR 1.14 trillion in 2024. (DK/ZH)