Saturday, 18 January 2020 | 02:15 WIB

Intiland Development Set to Distribute Dividends of IDR 20.7 Billion

Intiland Development Set to Distribute Dividends of IDR 20.7 Billion

JAKARTA, NETRALNEWS.COM - The shareholders of property company PT Intiland Development Tbk (IDX:DILD) have agreed on the company's management proposal to distribute part of the 2018 net profit as dividends. This was one of the decisions in the company's Annual General Meeting of Shareholders (AGM) held in Jakarta on Wednesday (06/15/2019).

Director of Management of Capital and Investment at Intiland, Archied Noto Pradono, explained that the company's total net profit in 2018 reached IDR 203.7 billion.

"As much as IDR 20.7 billion of the net profit is allocated for dividends, or at IDR 2 per share," Archied said in a public presentation after the company's Annual GMS.

That is, said Archied, the total dividends distributed to shareholders is equivalent to 10.2 percent of the company's net profit last year. "The latest dividend will be paid on June 14, 2019," he added.

Meanwhile, the remaining net profit of IDR 180.9 billion will be allocated for retained earnings, and IDR 2 billion as compulsory reserve requirements.

Throughout 2018, Intiland posted operating revenues of IDR 2.6 trillion, an increase of 16 percent over the previous year of IDR 2.2 trillion.

Meanwhile, operating profit and corporate net profit were recorded at Rp327 billion and Rp203 billion, respectively, which decreased by 5.2 percent and 31.6 percent.

"The decline in profitability performance was mainly due to the decline in gross profit margin and high interest expense," he explained.

Until the end of the first quarter of 2019, the issuer of the Indonesia Stock Exchange with the DILD trade code posted a revenue of IDR 887.6 billion, up 25 percent compared to IDR 709.2 billion in the same period last year. Meanwhile, the net profit was recorded at IDR 48 billion.