Feb 14, 2011

Multipolar dividend at Rp10 approved

PT Multipolar Tbk (MLPL), holding company of Matahari’s group, proposed dividend of Rp77.28 billion or Rp10 per stock finally approved by the shareholders through voting mechanism.
The voting conducted after the general meeting of shareholders (RUPS) to determine the dividend scale ran toughly due to there were several shareholders of 160 million Multipolar’s stocks that refused the proposed scale after they considered it too small and inappropriate with Multipolar’s dividend policy.
The dividend equals with dividend payout ratio of 2.76% from last year’s net income at Rp2.8 trillion.
Based on the observation conducted by Bisnis, individual investors that participated in the meeting are currently walkout from the meeting room despite they are still protesting about the dividend scale.
This year, the company projects Rp12 trillion revenues or rise by 7.2% compared to last year’s revenues at Rp11.2 trillion.
The company also targets 23,9% rise in its recurring income to Rp12 trillion from last year’s position at Rp9.7 trillion. 

Disclosure: No position at the stock mentioned above.  

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