Under the prevailing legislation (Company Law No.40/2007), the distribution of dividends must be approved by shareholders at the Annual General Meeting of Shareholders, based on the Directors proposals. The Company’s Articles of Association provide that dividends shall be distributed in accordance with the Company’s financial capability, based on the resolutions of a General Meeting of Shareholders. Directors shall have the right to change the dividend policy at any time with the consent from a General Meeting of Shareholders.
The decision of the AGMS held on May 4th, 2016 approved the use of net profit of the Company for the 2015 Fiscal Year to be distributed as cash dividends. Therefore, each share shall receive a cash dividend of Rp 6,- (Six Rupiah) per share. The 2016 dividend payment was published in 1 (one) national newspapers, namely the Koran SINDO on May 10th, 2016. The following illustrates the 2016 dividend payment schedule:
a. Cum Dividend in the Regular and Negotiation market on May 13th, 2016
b. Ex dividend in the Regular and Negotiation market on May 16th, 2016
c. Cum Dividend in the Cash Market on May 18th, 2016
d. Ex Dividend in the Cash Market on May 19th, 2016
e. Recording Date on May 18, 2016
f. Implementation of the dividend payment on June 9th, 2016