HM Sampoerna Uses Total Net Profit of 2012 to Pay out Dividend to Shareholders
HM Sampoerna, Indonesia's largest tobacco manufacturer and the country's second-largest company based on market capitalization, will pay out dividend amounting to IDR 2,269 per share (USD $0.23) as agreed in today's shareholders' meeting (18 April 2013). The company will use its full net profit of 2012 for the dividend payout. Last year, HM Sampoerna recorded net profit of IDR 9.95 trillion (USD $1.02 billion), a 23.3 percent increase compared to 2011.
However, HM Sampoerna only has a small amount of shares that are sold to the public as 98.18 percent of the company is owned by Philip Morris Indonesia. The Indonesia Stock Exchange has requested the company to list more shares on the market (preferably more than 20 percent of its stock equity) but director of Sampoerna, Paul Norman Janelle, stated that the company prefers the current situation.
The company targets its new factory in Jember (East Java) to start operations in June 2013. This factory will produce hand-made kretek (clove) cigarettes and will provide employment for about 4,500 people.
In the shareholders' meeting it was also approved that Andre Dahan will become the new marketing director, thus replacing Shea Lih Goh.
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