The plan to hand out dividends was decided at the general meeting of the company's shareholders (RUPS) held on Wednesday, Antam Senior Vice President/Corporate Secretary Kunto Hendrapawako stated.
"At the RUPS held today, the company agreed to pay out 35 percent of its net profits in 2020 as dividends to shareholders," he remarked.
In accordance with its policy, Antam pays out dividends in cash to all its shareholders at least once a year by taking into account its financial condition and corporate health level without reducing the RUPS' rights.
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Based on the Antam IPO prospectus, the company pays at least 30 percent of its net profit after tax.
PT Indonesia Asahan Aluminium (Persero) is, by far, PT Antam's largest shareholder, with 15.61 billion shares, or 65 percent of the total shares in circulation, while 8.41 billion shares, or 35 percent, are held by the public.
In 2020, Antam posted a net profit of Rp1.14 trillion, up 492.90 percent, as compared to Rp193.85 billion a year earlier. Related news: Antam`s profit in s1 increases significantly