JAKARTA: Publicly listed bread maker PT Nippon Indosari Corpindo says it will pay out Rp 27 billion (US$2 million) in dividends, or 15 percent of its Rp 188 billion in net profit from last year.
The dividend, equal to a Rp 5.53 per share, will be paid in July, spokesman Stephen Orlando said after an annual shareholders meeting in Jakarta.
The company, which is best known for its Sari Roti brand, saw a 19 percent increase in profits in 2014 to Rp 158.02 billion, according to a financial report published by Indonesia Stock Exchange (IDX).
The shareholders meeting approved the appointment of Jusuf Arbianto Tjondrolukito as independent commissioner to replace Gidion Oetomo, and the reappointment of Benny Setiawan Santoso and Tan Hang Huat as president commissioner and commissioner.
The meeting also endorsed the appointment of Seiji Kusunoki to replace Takao Okabe as a member of the board of directors. The other directors, including president director Wendy Sui Cheng Yap, were reappointed.
Nippon Indosari is majority-owned by PT Indoritel Makmur International Tbk, which is a member of the widely diversified Salim Group, and a British Virgin Islands-based investment firm, Bonlight Investments Ltd. The public owns just over 29 percent of shares.
Producing about 4 million units of bread per day, Nippon Indosari hopes to increase sales by 20 percent this year, buoyed by the launch of a sandwich filled with srikaya (coconut custard), double-soft wheat bread and a strawberry dorayaki (Japanese pancake).
The bread maker saw sales rise to Rp 519 billion in the first three months of 2015 from Rp 465 billion a year earlier. Net profit, meanwhile, rose to Rp 67 billion during the period compared to Rp 61 billion the year before.
