JAKARTA, NETRALNEWS.COM – State-owned pharmaceutical company Kimia Farma (KAEF.JK) will distribute cash dividend worth a total of IDR53.48 billion, or equivalent of 20% to its 2016 net profit of IDR267.414 billion.
The cash dividend distribution plan has been approved by the company’s shareholders in its Annual General Meeting of Shareholders (AGM).
Pujianto, Director of Kimia Farma, said that of the total dividends to be distributed, the government of the Republic of Indonesia as the majority shareholder will receive IDR48.15 million.
"The dividend distribution will be made in accordance with the prevailing laws and regulations in the capital market," he said.
In addition, Kimia Farma will set aside IDR213.92 billion from its 2016 net profit as retained earnings. It also sets unused retained earnings of IDR75.338 billion as reserves.
"In addition, the GMS has also approved the determination of the amount of tantiem, honorarium, allowances and facilities for the management of the company," Pujianto said.