Waskita agrees to pay out 30% of 2016 net profit as dividends

Waskita agrees to pay out 30% of 2016 net profit as dividends

(waskitakarya.com)

The remaining 2016 net profit will be incorporated into the retained earnings."
Jakarta (ANTARA News) - The Indonesian State-owned construction company PT Waskita Karya Tbk (WSKT) agreed to pay out Rp513 billion of its 2016 net profit as dividends at its annual meeting of shareholders here, Friday (March 17).

The dividends are equal to 30 percent of the 2016 net profit which reached Rp1.81 trillion, Waskita Karya President-Director M Choliq stated.

"The remaining 2016 net profit will be incorporated into the retained earnings," he said.

The company has set itself the target of posting a net profit of Rp3.5 trillion this year. To achieve the target, the company will expand its business this year, he revealed.

"In the January-February 2017 period, we posted a profit of Rp350 billion, accounting for 10 percent of the net profit target of Rp3.5 trillion for 2017," he affirmed.

PT Waskita Karya Tbk expects to sign new contracts worth Rp80 trillion this year. In the first two months of this year, the company signed contracts worth Rp8.6 trillion, accounting for 11 percent of the targeted Rp80 trillion for 2017.

The company has also targeted to increase its sales to Rp39 trillion this year. In the January-February 2017 period, the sales reached Rp5.3 trillion.

(Reported by Zubi Mahrofi/Uu.S012/INE/KR-BSR/B003)

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