Kalbe Farma Proposes to Pay Dividend of Rp643 Billion

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Tuesday, 19 April 2011 09:14

Theindonesiatoday.com - Pharmaceutical giant PT Kalbe Farma Tbk (KLBF) proposes to pay dividend of around Rp643 billion, a 50% of 2010 net profit, Bisnis Indonesia reported this morning.

The company booked net profit of Rp1.286 trillion last year, surged 38.4% from the previous year. Kalbe reported sales revenue of Rp10.226 trillion last year or a 12.5% growth over 2009.

Vidjongtius, KLBF's finance director, said the dividend per share would be Rp68.5. Kalbe Farma booked earning per share (EPS) of Rp137 in 2010, increased from Rp70 per share in 2007.

He said the company intends to increase its dividend payout ratio along with the company's profit growth. In 2007, the dividend payout ratio was 10%, 2008's was 17% and rose to 25% in 2009.

Vidjongtius also said, as quoted by Investor Daily, Kalbe plans to sell 780.9 million treasury stocks, or 7.7% of total company shares, to raise Rp2.8 trillion funds this year.

He said the company needs funds of between Rp500 billion to Rp1 trillion for acquiring companies or products.

The treasury stocks, Vidjongtius said, are derived from share buyback program undertaken during 2008-2009 period, at the average price of Rp880 per share.

KLBF shares was traded at Rp3,675 on Monday (April 18). At this price, it has market capitalization of Rp37.32 trillion.

Vidjongtius said Kalbe may acquire more than one company this year and has set strategic investment unit for studying the opportunity of building a joint venture and merger. (hans@theindonesiatoday.com)

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