Semen Baturaja to distribute dividend, Indonesia

Semen Baturaja will distribute a IDR78.04 dividend, or 25 per cent of last year’s net profit of IDR312.18bn (US$27.4m)

Pamudji Raharjo, president director of the publicly-listed company, said the government will have a share of IDR59.5bn (or 76.24 per cent of the dividend) and the investing public will have around IDR18.5bn). The remaining part of the net profit will be used as a reserve fund to support Semen Baturaja’s expansion, Pamudji added.

This year, the company targets a 12.17 per cent YoY increase in net profit to IDR350bn, according to finance director Ageng Purboyo Agrenggono.

In the first two months of this year, the company already recorded IDR191.58bn in income with sales totalling 206,000t of cement.