The Company’s policy to distribute cash dividends to the Shareholders is set at maximum amount of 20% of total net profits. All of the Company’s issued and paid-in shares, including shares offered in the Initial Public Offering, are granted fair and equal rights on dividend distribution. There will be no negative covenant that may hinder the Company to distribute dividends to the Shareholders with regard to third party restriction.
The Company’s dividend payment take into consideration the financial performance, cash flow, the state of the industry, and compliance to rules and regulations, and other factors considered relevant by the Board of Directors without prejudice to the GMS’ right of determining otherwise pursuant to the Company’s Articles of Association.
Due to the Company's declining performance, the Board of Directors resolved not to declare any dividend in 2016.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2014 as legalized by Notarial Deed No.7 of Tjhong Sendrawan, S.H. dated March 30, 2015, the shareholders approved cash dividend distribution amounting to IDR25,770,285,720 equivalent to US$2,071,565 for IDR40 per share. This had been distributed to the shareholders on April 30, 2015 taken from the Company's profit balance of the financial year 2014.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2013 as legalized by Notarial Deed No.8 of Tjhong Sendrawan, S.H. dated April 16, 2014, the shareholders approved cash dividend distribution amounting to IDR 18,039,200,004 equivalent to US$1,585,447 for 644,257,143 shares or equivalent to IDR28 per share which had been paid on June 6, 2014 and taken from the Company's profit balance from the financial year 2013.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2013 legalized by Notarial Deed No.8 of Tjhong Sendrawan, S.H. dated April 16, 2014, the shareholders approved cash dividend distribution amounting to IDR18,039,200,004 equivalent to US$1,585,447 for 644,257,143 shares or equivalent to IDR28 per share which had been paid on June 6, 2014.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2013 as legalized by Notarial Deed No.8 of Tjhong Sendrawan, S.H. dated April 16, 2014, the shareholders approved cash dividend distribution amounting to IDR 18,039,200,004 equivalent to US$1,585,447 for 644,257,143 shares or equivalent to IDR28 per share which had been paid on June 6, 2014 and taken from the Company's profit balance from the financial year 2013..