May 24, 2011

Gajah Tunggal to pay Rp12 dividend

One of Indonesia's car tire manufacturer PT Gajah Tunggal Tbk (GJTL) aims to distribute Rp12 per share dividend.
"In total, the company plans to provide Rp41.83 billion dividend to its shareholders," said Gajah Tunggal Corporate Secretary Catharina Widjaja said as quoted by Kontan daily today.
The dividend ratio is 5.03% of the company's net profit last year of Rp830.62 billion. In 2010, Gajah Tunggal distributed Rp15 per share dividend.
The company will boost its production capacity up to 2012, using capital expenditure of US$180 million which has been budgeted since 2005. Gajah Tunggal estimates to produce 15,000 units of radial tires and 68,000 motorbike tires.

Disclosure: No position at the stock mentioned above.

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