May 25, 2011

Lonsum to pay Rp61/ share dividend

A palm oil plantation company PT PP London Sumatra Indonesia Tbk that is controlled Sariaatmadja family decided through its shareholders meeting today to pay Rp416.19 billion dividend in cash, or Rp61 per share.
The figure represents 40.28% of the company's net income last year of Rp1.03 trillion.
The company will pay the dividend on July 6, 2011. Investors who buy Lonsum stocks after ex dividend starting on June 17, 2011, they will not entitle with dividend.
The shareholders also accepted the resignation of Goh Cheng Beng (Allan Goh) as director effective on July 31, 2010.
Lonsum’s sales was Rp3.59 trillion last year, a 12.28% increase compared to Rp3.20 trillion in 2009, on higher rubber and palm oil products prices as well as higher sales volume of SumBio oil palm seeds. Cost of goods sold and operating expenses were relatively flat at Rp1.82 trillion and Rp371.89 billion, respectively.
Disclosure: No position at the stock mentioned above.
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