Jakarta, CNBC Indonesia – PT Mitra Pinasthika Mustika Tbk (MPMX), issuer dealership automotive entrepreneurs Sandiaga Uno and Edwin Soeryadjaya through their investment vehicle Saratoga, are ready to distribute dividends on net income to their shareholders, in a fantastic amount of Rp 496 billion.
Quoted from the company’s press release at the 2021 Annual General Meeting of Shareholders (AGMS), MPMX is ready to distribute a cash dividend of Rp115/share. This figure is up from last year’s position which only distributed dividends of Rp 90/share.
At the current MPMX price level at IDR 855/share, the dividend yield, aka dividend yield MPMX is at 13.4%. As for the Dividend Payout Ratio (DPR), it is recorded that the company distributed dividends far more than its net profit.
The MPMX DPR recorded that it reached 426%, which means the company distributed its retained earnings as dividends or usually referred to as super dividends, so that the dividend payout this time is quite high.
CNBC Indonesia calculated that with a dividend per share of Rp 115, and a total of 4,315,720,291 outstanding shares (excluding treasury shares), the total dividends distributed reached Rp 496 billion.
The company stated that the amount of cash dividends is the company’s ongoing commitment to continue to strive to provide maximum returns and appreciation to shareholders in the form of consistent dividend distribution in the long term.
The company’s consolidated revenue throughout 2020 was recorded at Rp. 11.2 trillion and net profit was recorded at Rp. 133.6 billion, down by 32.5% and 71.3% YoY, respectively, as a result of the impact of the Covid-19 pandemic.
“The company has shown resilience and agility in the most difficult situations. The achievement of financial performance throughout 2020 is still quite good where in the midst of the Covid-19 pandemic, the Company was still able to record a net profit for the year of Rp133.6 billion,” said Suwito Mawarwati, MPMX Group Chief Executive Officer, in the disclosure of information on the Indonesia Stock Exchange, quoted Monday (31/5).
Meanwhile, in the first quarter of 2021, the trend of recovery continues with improving operational indicators in all of the company’s business segments.
The Company managed to record positive revenue growth of Rp 3.2 trillion and net profit of Rp 120 billion, which is a good achievement when compared to FY2020 net profit of Rp 133.6 billion.
This happy performance in the first quarter is interpreted by Suwito as the result of the Company’s ability to adapt quickly, remain agile and flexible in line with efforts to take advantage of all opportunities.
CNBC INDONESIA RESEARCH TEAM
(trp/trp)
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