20% Net Income PP Property Is Shared As Cash Dividend 2017

INDUSTRY.co.id - Jakarta - Shareholders of PT PP Properties Tbk (PPRO) at the Annual General Meeting of Shareholders (AGM) in Jakarta on Tuesday (17/04/2018), approved the dividend distribution for the fiscal year 2017 totaling Rp88 billion (Rp1.30 per share) .

"The total dividend distributed amounts to about 20 percent of the company's net profit in 2017 of Rp444 billion," Taufik Hidayat, President Director of PPRO, told a press conference after the AGM in Jakarta on Tuesday (17/04/2018).

Taufik said, the dividend distribution is one of the company's appreciation to every shareholder of PPRO. The dividend payment will be realized immediately in accordance with the applicable regulations.

In addition to dividends, Taufik said that the company's net profit last year was also set aside for reserve fund and the rest is recorded as retained profit. "That's to support the company's business in the future," said Taufik.

In 2017, PPRO posted a net profit of Rp444 billion or grew 21% compared to the actual net profit in the previous year of Rp366 billion.

"Our profit growth last year was supported by an increase in sales by 21 percent to Rp 3.01 trillion, compared to Rp2.49 trillion in 2016," said Taufik. (Abraham Sihombing)