Apr 27, 2011

AUTO to pay Rp592/share dividend

Automotive spare parts maker PT Astra Otoparts Tbk (AUTO) today was approved by annual of shareholders general meeting to distribute 40% total dividend or Rp592 per share of its net profit last year.
An investor who attended the meeting said Astra Otoparts has distributed Rp158 per share interim dividend in November last year. The remaining dividend of Rp434 per share will be distributed on June 10 2011.
The company reported a slight decrease in net income of 6.81% in the first quarter of this year (1Q2011) because of higher operating expenses.
The company posted Rp259 billion net income in 1Q 2011 from Rp278 billion in the previous year, a presentation material submitted by Astra Otoparts to Indonesia Stock Exchange revealed today.
However, net revenue grew 20.6% to Rp1.82 trillion from Rp1.51 trillion. The company's assets rose 23% to Rp6.2 trillion from Rp5 trillion as a result of the increase in its current assets of 9.1% to Rp2.6 trillion from Rp2.4 trillion.
Non-current assets increased 35.9% to Rp2.6 tillion from Rp929.6 billion. 
The company is also planning to hold a stock split with 1:5 ratio. The corporate action will be proposed during annual of shareholders general meeting (AGM) scheduled on April 27 2011. 

Disclosure: No position at the stock mentioned above.

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