PP to Pay Dividend of Rp10.11 per Share

Indonesia Finance

Wednesday, 16 June 2010 15:57

Written by Hatman Bintang

State-owned construction company PT Pembangunan Perumahan Tbk (PP) has announced that it will distribute dividend of Rp10.11 per share or amounting to Rp48.97 billion. The decision was approved by the company’s shareholders on Wednesday.

The dividend payout represents 30% from the 2009 net profit of Rp163 billion. The company plans to use the remainder of net profit for investing in business development this year.

The company listed on the Indonesian Stock Exchange in February this year. Since the IPO this year, the company has expanded its business into energy and toll road in order to boost its net profit by five-folds to around Rp650 billion in 2014.

Pembangunan Perumahan is targeting to secure order book (project contract) worth Rp16.2 trillion this year, including Rp13.6 trillion new contracts and Rp2.59 trillion carried-over contracts from 2008.

Building constructions remained the biggest contributor to the company’s revenues last year, standing at 70% of total revenues. The remaining revenues came from road and bridges, irrigation, port projects.

In the first quarter of the year, the company managed to boost its asset up to Rp4.47 trillion, jumped 36.7% from the same period last year.

PP managed to raise its cash and cash equivalent to Rp525 billion in the quarter from Rp75 billion in the same quarter last year. However, its short-term investment dropped to only Rp11.2 billion or down Rp100 billion from Rp111.2 billion from the same quarter of 2009, given the absence of marketable securities being traded this quarter.

» Wal-Mart Mulls Again to Open Store in Indonesia

Theindonesiatoday.com - US retail giant Wal-Mart plans to invest again in Indonesia after doing market observation recently, Bisnis.com reported this morning.

Latest News

» Wal-Mart Mulls Again to Open Store in Indonesia

» Thoresen Confirms to Develop Coal Mine in Indonesia

» East Java Forbidden to Seek Partner for West Madura

» BTPN 2010 Profit Doubles

» Berjaya Divests Insurance Unit for RM496 Million

» Eximbank Targets 17.5% Profit Growth This Year

» Mandiri Provides Rp5.3 Trillion Financing to PTPP

» Vallar Tumbles 8%

» Tax Office Boss Optimistic to Win Case Against BUMI

» Berau Coal Acquires Two Shipping Companies

» Bapepam Warns 7 Insurers for Licenses Revocation

» IDX Composite Closes Morning Marginally Lower

» CPO Drops Further, Plantation Stocks Gain

» Holcim Indonesia to Pay Dividend of Rp178.19 Billion

» KMI Wire Profit Soars 133%

Latest News

Most Read

Industries

Politics

Law

People