JAKARTA: PT Tembaga Mulia Seamanan Tbk, a manufacturer of copper wire and aluminum, will distribute a total dividend of IDR3.67 billion, or 17.5% of net profit last year.
Executive Director of Tembaga Mulia Herry Setiyono said net profit last year reached IDR21 billion, or jumped 556% from IDR3.2 billion in 2010.
“The shareholders meeting decided to distribute dividends worth IDR200 per share. Dividends will be distributed in cash later on July 16," he said in a public exposure in Jakarta Wednesday, June 6, 2012.
Jakarta-based company has been exporting 20% of the total copper production to various countries. The exports to China reached 50%, the rest was exported to India, Philippines and Bangladesh.
Related to the company’s capital expenditure, Herry said it has prepared IDR70 billion this year to purchase new machines. The funds was obtained from internal cash.
Director of Tembaga Mulia Budi Yuwono said the new machines are expected to increase aluminum production capacity to 3,700 tons per month from 2,700 tons per month.
Total number of shares of Tembaga Mulia Seamanan (TBMS-coded stock) is 18.367 million. The majority shareholders are the Furukawa Electric Co.. Ltd in Japan (42.42%), PT Sucaco (33.81%), Toyota Tsu Sho Corporation (10%), and the public (13.77%).(T03/TW)