In accordance with Indonesian laws and the Company’s Articles of Association, net income may be distributed to shareholders as dividends after provision for the compulsory reserve fund, as required by law, is set aside.
Based on Annual General Meeting of Shareholders (GMS) of 2019 fiscal year held on June 29, 2020, the shareholders approved and determined the Company to not set aside reserve funds in accordance with Article 70 of Law Number 40 of 2007 regarding Limited Liability Companies, and to not distribute dividends to the Company’s Shareholders.
After its Initial Public Offering, the Company plans to distribute dividends in cash at least once a year, however there is no certainty that the Company will be able to pay dividends in a year in the future years. The amount of dividends will be related to the Company's profits for the financial year concerned, without neglecting the soundness of the Company and without prejudice to the rights of the General Meeting of Shareholders (GMS) of the Company to determine otherwise in accordance with the provisions of the Company's Articles of Association and the prevailing laws and regulations.
The timing, amount and form of dividend payment will depend on the recommendation of the Company's Board of Directors. The decision of the Board of Directors of the Company in providing recommendations for dividend payments depends on:
- The results of the Company's business activities and cash flows;
- Estimated financial performance and working capital requirements of the Company;
- The Company's business prospects in the future;
- Capital expenditures and other investment plans of the Company;
- Other investment and growth planning; and
- General economic and business conditions and other factors deemed relevant by the Company's Board of Directors as well as restrictions on dividend payments based on related agreements.
APLN Dividend History