Chandra Asri Pacific (TPIA) Decides to Distribute US$ 30 Million Cash Dividend

LISTED COMPANY - JAKARTA. PT Chandra Asri Pacific Tbk (TPIA) has announced plans to distribute a cash dividend of US$ 30 million. This amount is equivalent to Rp 482.43 billion, based on the JISDOR exchange rate of Rp 16,081 per US dollar.

According to a statement received by Kontan on Wednesday (8/5), the Annual General Meeting of Shareholders (AGM) agreed to use the net profit of US$ 43.12 million for two purposes.

Firstly, US$ 30 million from the net profit of the 2021 fiscal year will be distributed as an additional cash dividend to TPIA shareholders. The remaining US$ 13.12 million will be reserved as retained earnings.

"The meeting approved the distribution of cash dividends using a portion of the retained earnings from the 2023 fiscal year amounting to US$ 30 million," explained TPIA management in its statement on Wednesday (8/5).

For context, this business entity of the Barito Group recorded a net profit for the year attributable to the parent entity of US$ 152.12 million throughout 2021. This achievement soared 196.23% annually from US$ 51.35 million.

However, in 2022, TPIA had to bear a net loss for the year attributable to the parent entity of US$ 149.53 million. Then in 2023, the net loss shrank to US$ 33.57 million.