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Matahari Department Store to distribute Rp 1.33t in dividends
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Executives of PT Matahari Department Store, namely vice president of finance and accounting Susanto (left), CFO Clarissa Joesoep (second left), deputy president director Richard Gibson (center), head of investor relations Margarett Go (second right) and corporate secretary Miranti Hadisusilo, attend as speakers of a public expose in Jakarta, on April 27. (JP/Anton Hermansyah)
L
ippo Group's PT Matahari Department Store has announced it will distribute Rp 1.33 trillion (US$93.6 million) in dividends, 70 percent of the Rp 1.9 trillion it earned in net income in 2017.
With nearly 2.92 billion shares, each share is valued at Rp 457.57. "It is our commitment to increase the returns for shareholders," the company's deputy president director, Richard Gibson, said in a statement on Friday.
In 2017, Matahari opened eight new stores and closed four, Richard said, adding that the company currently operated 153 stores across the country.
Corporate secretary Miranti Hadisusilo said the dividends would be paid on May 30 while cum dividend distribution would be carried out from May 7 to 11.
"The dividends will be paid in cash and the remaining Rp 572.19 billion from last year's net income will be allocated for retained earnings," she said. (bbn)
