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View all search resultsMedia Nusantara Citra to distribute Rp 587b in dividends
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MNC Bank president director Benny Purnomo (left) and MNC Bank director Benny Helman (right) show a model of the bank's digital platform during the launch of the platform in Jakarta on March 9. (JP/dra)
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T Media Nusantara Citra (MNCN) has announced that it will distribute dividends amounting to Rp 587 billion (US$44 million), or 43 percent of the firm’s 2016 net profits.
“We have determined that cash dividends of Rp 42 per share will be distributed, based on the number of shares cum dividend date,” the company’s president director David Fernando said.
Moreover, Rp 1 billion will be recoded as a reserve fund, while the remaining funds from net profits will be booked as retained earnings dedicated to strengthening the firm’s capital structure.
On Thursday, shareholders approved the resignation of one of its directors, Diana Airin, which was effective from May 20.
In the first three months of this year, the firm’s revenue grew by 5 percent to Rp 1.6 trillion. Meanwhile, its net income dropped by 13 percent to Rp 419 billion.
MNCN operates four of Indonesia’s 11 free-to-air TV stations, namely RCTI, MNCTV, GlobalTV and iNewsTV. It also owns radio, print media, and talent management companies. (dmr)
