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JAKARTA. PT Astra International Tbk (ASII) and its subsidiaries such as PT Astra Agro Lestari Tbk (AALI), PT United Tractors Tbk (UNTR), and PT Acset Indonusa Tbk (ACST) will declare IDR 2.93 trillion of interim dividends to their shareholders for 2016 fiscal year.
UNTR will declare a worth of IDR 533.39 billion of interim dividends for 3.73 billion of shares, or IDR 143 for every share. Last year, UNTR declared interim dividend at a price of IDR 251 for every share.
Meanwhile, UNTR’s subsidiary ACST will declare a worth of IDR 7.7 billion of interim dividends for 700 million of shares, or at the price of IDR 11 per a share. Another ASII’s subsidiary AALI will declare a worth of IDR190.54 of interim dividends for 1.92 billion of shares, or at the price of IDR 99 per a share.
ASII itself will declare a worth of IDR 2.22 trillion of dividends for 40.48 billion of shares, or at the price of IDR55 for every share. Last year, ASII declared the dividends at the value of IDR 64 for a share.
According to Head of Research Department at Korindo Securities Reza Priyambada, ASII may want to expand capital expenditure to support the issuer’s business plan by reducing the value of its dividend.
Analyst at BNI Securities Thennesia Debora said that ASII plans to reduce dependency on automotive and heavy equipment sectors by launching business expansion to infrastructure and construction sectors through its subsidiaries.
Thennesia said that ASII’s decision to declare interim dividends may reflect that Astra and its subsidiaries have positive performance in this year.
At the end of the year, Astra will declare the final dividends. This will offer opportunities for investors to gain profits. However, Thennesia added that in consolidation manner Astra Group has not showed significant increase in their performance.
In the first semester of this year, ASII’s revenue and profit dropped by 5% to IDR88.21 trillion and by 12% to IDR7.12 trillion, respectively.
(MUHAMMAD FARID/Translator)
