May 20, 2011

Elnusa to pay Rp2.66/share dividend

An integrated oil and gas services company PT Elnusa Tbk (ELSA) obtained an approval to distribute Rp2.66 per share dividend or Rp19.17 billion scheduled in July 20 2011.
The dividend is representing 30% of its net profit last year of Rp63.9 billion, an official statement said yesterday.
Elnusa targets Rp5.28 trillion revenue this year, a 25% increase from Rp4.21 trillion last year.Annual general meeting of shareholders held yesterday also appointed Sabam Hutajulu as Finance Director in Elnusa, replacing his predecessor Santun Nainggolan which is under investigation of an illegal redemption of the company's deposits. Integrated upstream services is still the biggest contributor with Rp3.03 trillion target revenue.  

Disclosure: No position at the stock mentioned above.  

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