Feb 14, 2011

Investors reject Multipolar dividend

Investors has rejected the Rp10 per share dividend proposed by management of PT Multipolar Tbk (MLPL), making extraordinary of share holders's meeting (EGM) today is getting tougher. 
"The proposed dividend is too small. This is not in line with announcement published in the newspaper by Multipolar last year. If the company posts more than Rp100 billion net income, it shall distribute 15%-25% of dividend payout ratio," an invidual investor who is attending the EGM today.
Multipolar, the holding company of Matahari’s group, proposes Rp77.28 billion dividend or equals to Rp10 per share from last year’s net income at Rp2.8 trillion.
Such dividend equals to the dividend payout ratio as much as 2.76%. This year, the company projects Rp12 trillion revenues or surged by 7.2% compared to last year’s accomplishment at Rp11.2 trillion. 

Disclosure: No position at the stock mentioned above.  

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