DSN Paid Dividend Rp 5 per share
JAKARTA, MARCH 31, 2017 - PT Dharma Satya Nusantara Tbk (the Company) today held the Annual General Meeting of Shareholders (AGM) for the financial year 2016, followed by a Public Expose on Hotel J.S. Luwansa, Jakarta.
One of the AGM results was the approval for sharing of the Company's net profit in 2016 of Rp 250.7 billion, as follows:
1. Paid as cash dividend of Rp 52.3 billion or Rp 5, - (five Rupiah) per share.
2. Rest of net profit recorded as retained earnings of the Company which is used to strengthen working capital and the Company's investment.
AGM also approve to change the composition of the Board of Commissioners. Mr Adi Resanata Somadi Halim, who previously served as a Commissioner, appointed as President Commissioner of the Company to replace Mr. Ir Subianto, who passed away on January 4, 2017. In addition, the AGM also approved the new members of Board of Commissioners, namely Ms. Arini Saraswaty Subianto, Mr Arif Patrick Rachmat and Mr Toddy Mizaabianto Sugoto.
In addition, the Public Expose, Director of the Company, Ms. Lany Djuwita, described the operational and financial performance during the fiscal year 2016. In 2016, the Company's CPO production reached 312 thousand tons, decreased by 23.4% compared to 2016, due to lower FFB production caused by the continued impact of the El Niño that occurred in 2015 until the second quarter of 2016.
However, CPO sales volume reached 348.4 thousand tons, decreased by 15% compared to 2015, with the CPO average selling price of USD 7.54 million, an increase of 10% compared to 2015.
In 2016, the Company had planted area of 90,288 hectares, consisting of 69,368 hectares of nucleus and the rest of plasma. Of these, mature area reached 65,181 hectares. The Company has a young profile palm oil tree with nuclues average age of 8.5 years.
The Company recorded revenue of Rp 3.94 trillion, 10.9% lower compared to 2015. Of the total revenue, the palm oil industry contributed Rp 3.0 trillion or 75%.
Despite facing several challenges due to the prolonged dry season and global economy slowdown, the Company still recorded net income of Rp 252 billion and comprehensive income for the year of Rp 251.4 billion.
ABOUT THE COMPANY
PT Dharma Satya Nusantara Tbk (DSN Group) was established on September 29, 1980. DSN Group began operations in timber industry. In the mid-1990s, the Company diversified operations to begin land acquisition on the operation of palm oil and palm oil cultivation started in 2001 and commercialize the production of CPO and Palm Kernel in 2002.
FOR MORE INFORMATION
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR / 3B
Pulogadung Industrial Estate
Jakarta 13930, Indonesia