24 January 2020 (closed)
USD/IDR (13,647) +35.01 +0.26%
EUR/IDR (15,037) +20.88 +0.14%
Jakarta Composite Index (6,244.11) -5.10 -0.08%
Shareholders of the largest cigarette manufacturer of Indonesia, Hanjaya Mandala Sampoerna (HM Sampoerna), approved the company's plan to execute a 25-for-1 stock split. The move, aimed at making shares more affordable for retail investors thus boosting liquidity, will raise the company's total outstanding shares to 116.3 billion pieces. Since 2005 HM Sampoerna has been owned by international tobacco giant Philip Morris. The US-based company controls a 92.5 percent stake in HM Sampoerna.
Besides the stock split, shareholders also approved the management's proposal to distribute IDR 10.35 trillion (approx. USD $784 million) in dividend, equivalent to 99.99 percent of HM Sampoerna's net profit in 2015.
The approval of the stock split and dividend payout was well received by investors. On Wednesday (27/04), shares of HM Sampoerna on the Indonesia Stock Exchange jumped 5.03 percent to IDR 97,150 per piece. So far this year the company's shares have climbed 3.35 percent.
In the first quarter of 2016 HM Sampoerna's net profit rose 7.6 percent year-on-year to IDR 3.12 trillion (approx. USD $236 million) from IDR 2.9 trillion in the same quarter one year earlier.
HM Sampoerna is one of Indonesia's largest companies in terms of market capitalization on the Indonesia Stock Exchange. The company controls about 35 percent of Indonesia's tobacco market.
Stock Quote HM Sampoerna - HMSP: