Jun 29, 2011

Semen Gresik to pay Rp306 dividend

Indonesia's largest cement maker PT Semen Gresik Tbk (SMGR) was agreed by its shareholders to distribute Rp1.82 trillion or Rp306 a share total dividend, reflecting 50% of its net profit last year.
Semen Gresik President Director Dwi Sutjipto said the dividend has including interim dividend distributed last year. 
In the first half of this year, the state-controlled cement producer recorded a 9.2 million tons-9.3 million tons of production.
By end of 2011, Semen Gresik expects to reach 19.5 million tons of production. "We usually reach 45% of the annual production in the first half," said Director Irwan Suarly said.
Rp9 trillion capex
The company will provide Rp9 trillion of capital expenditure (capex) in 2012 in a bid to jack up production capacity. Production is targeted to reach 24 million tons-25 million tons next year.
Finance Director Ahyanizzaman said the company's capex next year is higher than realization last year of Rp4 trillion-Rp5 trillion.   

Disclosure: No position at the stock mentioned above.

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