Indonesia's largest auto maker and assembler PT Astra International Tbk (ASII) has been approved by annual meeting of shareholders to distribute a final dividend of IDR1,600 per share or IDR6.47 trillion, reflecting a 45% payout ratio of its net profit last year.
An investor who attend the meeting said the final dividend includes an interim dividend of IDR470 per share which was distributed by the company on November 15 2010. "Astra is scheduled to distribute the dividend on June 16 2011," he said today.
Astra reported a 43.13% increase in net income last year as revenue reached higher level. The company's net income reached IDR14.37 trillion last year from IDR10.04 trillion a year earlier. Operating profit rose 15.43% to IDR14.73 trillion from IDR12.76 trillion.
However, Astra's operating margin lowered to 11.33% from 12.95% because of higher cost. Gross profit increased 18.32% to IDR26.87 trillion from IDR22.77 trillion. Cost of goods revenue surged 36.11% to IDR103.12 trillion from IDR75.76 trillion.
Astra posted a 31.93% increase in revenue to IDR129.99 trillion from IDR98.53 trillion.
Disclosure: No position at the stock mentioned above.
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