This is appreciation for shareholders

ILLUSTRATION. Indocement (INTP) will distribute cash dividends to shareholders worth Rp 1.83 trillion.

Reporter: Akhmad Suryahadi | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. Shareholders of PT Indocement Tunggal Prakarsa Tbk (INTP) will arrive blessing. This is because the Tiga Roda brand cement producer will distribute cash dividends to shareholders worth Rp 1.83 trillion or 100% of the total net profit recorded in 2019.

Do not stop there, INTP also took Rp. 5.31 billion from the retained earnings balance that has not been determined to be used as cash dividends to shareholders. Thus, the amount of dividends received by one shareholder is Rp. 500.

To Kontan.co.id, Indocement Corporate Secretary Antonius Marcos said, the transfer of 100% of INTP’s net income as dividends was a gift for INTP shareholders.

Also Read: Prices can still go up, Indocement (INTP) shares are recommended buy on weakness

“As our appreciation to shareholders in these difficult times,” Marcos said when contacted by Kontan.co.id, Tuesday (7/28). In addition, Marcos also said INTP had strong liquidity so that the distribution of dividends would not affect INTP’s financial condition.

Quoting financial statements INTP, as of the first quarter of 2020 INTP had a total of cash and cash equivalent of Rp. 7.75 trillion, up 1.4% from the previous cash and cash equivalent of Rp. 7.65 trillion. The number of INTP’s current assets reached Rp 12.65 trillion.

MNC Sekuritas analyst Herditya Wicaksana assessed that the distribution of dividends will be an additional attraction for INTP shares. “This is very interesting for INTP and this term becomes booster for INTP going forward, “Herditya said when contacted by Kontan.co.id, Tuesday (7/28).

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Also Read: The reopening of economic activity will be a positive catalyst for Indocement (INTP)

Technically the movement of INTP shares is still quite interesting. Herditya saw that there was still potential to rise in the area of ​​Rp 13,500. So, if market participants want to enter INTP shares, so can buy on weakness.

In today’s trading, stocks INTP closed up 0.41% to the level of Rp 12,350. Thus, the estimation yield INTP dividends for the 2019 fiscal year were 4.04%.

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Reporter: Akhmad Suryahadi
Editor: Wahyu T. Rahmawati

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