Jasa Armada Earmarks 75% of Profit for Dividends
Jakarta. Maritime service company Jasa Armada Indonesia (IPCM) has earmarked Rp 113 billion ($7.5 million) for dividends payment, equivalent to 75 percent of its 2022 net profit or Rp 21.42 per share.
Jasa Armada already paid shareholders Rp 19.4 billion in dividends on Dec. 23, 2022, and the remaining Rp 93.6 billion will be paid next month, Chief Executive Officer Shanti Puruhita said in a statement on Friday.
The dividend payout was agreed during the annual general meeting of shareholders earlier this week.
Shanti said the remaining 25 percent of the Rp 150.6 billion profit is allocated as cash reserves (Rp 30 billion) and working capital (Rp 7.5 billion).
A subsidiary of state-owned port operator Pelabuhan Indonesia (Pelindo), Jasa Armada has three main businesses including pilotage service, freight service, and fleet management service.
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