Oct 3, 2011

Astra Agro to pay Rp300 dividend

Palm oil producer PT Astra Agro Lestari Tbk (AALI) will distribute a Rp300 per share of interim dividend. In an official statement submitted to Indonesia Stock Exchange today, the dividend has obtained approval from Astra Agro's board of commissioner which put into effect on September 29. The cum dividend in the regular and negotiation markets is set on October 24 and ex dividend in both markets is set on October 25 2011.
The company posted a 18.7% increase in CPO sales volume to 566,774 tons in the first half of this year (1H 2011) from 477,639 tons. CPO's average selling price increased 21.6% to Rp8,013 per kg from Rp6,590 per kg.
The local market absorbed 94.8% of the total CPO sales volume or 537,226 tons while the rest or 29,548 tons were exported.
Based on Oil World report, June 2011 edition, the global’s CPO production in 2010 was approximately 45.87 million tons, went up by 1.3% compared to 2009.
The growth was mainly derived from the additional mature area, from 12.18 million hectares last year to 12.82 million hectares.
Referring to the report, total Oil Palm mature area in 2011 will increase to 13.4 million hectares with the total
production is estimated to reach  49.19 million tons. Indonesia and Malaysia as the main World’s CPO producer respectively will produce 48.4% (23.8 million tons) and 37.2% (18.3 million tons) of the total world’s CPO production. 

Disclosure: No position at the stock mentioned above.

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