PALMOILMAGAZINE, JAKARTA – PT Dharma Satya Nusantara Tbk (DSNG) held its annual general shareholders meeting for the 2023 fiscal year at the Harris Hotel and Conventions Kelapa Gading, Jakarta, on Wednesday (5/6/2024). One of the significant decisions made during the meeting was the approval to distribute dividends amounting to approximately Rp 233.2 billion, equivalent to Rp 22 per share. This cash dividend represents about 28 percent of the company’s net profits.
Directors and members of the board of commissioners of the company participated in the meeting online. A total of approximately 9,888,383,654 shareholders attended the meeting, representing around 93.288 percent of the total shares.
Andrianto Oetomo, Director of PT Dharma Satya Nusantara Tbk, stated that the dividend would be distributed to each shareholder in accordance with applicable regulations. The distribution process is expected to commence at least 30 days after the conclusion of the meeting, with announcements made to the public accordingly.
“The company would not put aside of mandatory reserve fund because it reached the minimum numbers that is mandated by the available regulation,” Andrianto said.
Since the implementation of initial public offering (IPO) in 2013, DSNG always shares the cash dividend for every shareholder, including in 2023. Even though last year the company faced big challenges, such as, the increasing production cost because of the expensive fertilizers from geopolitics between Russia and Ukraine, and the sluggish economy in the world and also the expensive loan rate that delivered impacts for property and wood products in the world, DSNG still got positive performance.
“We would do the best to maintain EBITDA and profits good even though they got decreased to the 2022. As a public company, we are committed to always deliver additional values for every shareholder by getting profits, though the economic condition in the world gets slower and the geopolitics factor that made fertilizers more expensive,” Andrianto said, as in the official statement to Palmoilmagazine.com, Wednesday (5/6/2024).
In 2023, DSNG sold up to Rp 9,4 trillion, EBITDA reached Rp 2,4 trillion, and net profits reached Rp 842 billion. Palm oil business would be the main contributor that reached 88% to the income of the company, then wood products reached 11,3% and renewable energy reached 0,7%.
Besides sharing the dividend, the meeting also approved to get publc account, Budi Susanto, SE, M.B.A, CPA, from Kantor Akuntan Publik Siddharta Widjaja dan Rekan to audit the financial report for 2024 fiscal year. (T2)
