Our current dividend policy is to pay dividends to our shareholders in the amount of approximately 40% of our net profit attributable to shareholders of the Company subject to liquidity, leverage, reserves, financial performance/sustainability, projected operational expenses and capital expenditures. Our dividends will be subject to our cash flow and investment plans, as well as requirements imposed by our indebtedness, regulatory restrictions and other requirements. We are not prohibited from distributing dividends to our shareholders, subject to the fulfillment of certain requirements under the Company Law and agreements with third parties.
Under Indonesian law, the payment of final dividends is required to be approved by shareholders at the annual general meeting of shareholders upon the recommendation of the board of directors, subject to the requirements under the Company Law. Pursuant to the Company Law, the Company’s Articles of Association provide that if the Company has positive net income in any financial year, the Company must first set aside part of its earnings as a reserve fund. Subsequently, the Company may distribute dividends to shareholders, based on a recommendation from the Company’s Board of Directors, upon obtaining the necessary approval from shareholders in accordance with the prevailing laws and regulations as well as the relevant regulations of the stock exchange on which our Shares are listed. The decision to pay dividends is otherwise subject to our earnings, financial and liquidity condition, compliance with prevailing laws and regulations and any other factors considered relevant by our Board of Directors and, to the extent a decision is made to pay dividends, dividends will be declared in U.S. dollars and paid in Rupiah at the spot rate at the time of payment. In addition, pursuant to POJK 32/2014, dividend payments must be made no later than 30 days after the announcement of the summary of minutes of the general meeting of shareholders approving the dividend payment.
We may also distribute interim dividends, provided that (i) the interim dividend does not result in our net assets becoming less than the total issued and paid up capital and the compulsory reserves fund and (ii) the distribution of the interim dividend will not cause us to breach any covenants with our existing creditor(s) or adversely affect our business activities, based on recommendation of the Board of Directors, upon obtaining approval from the Board of Commissioners. In the event that we suffer losses after the end of the relevant financial year, the interim dividend that was distributed to the shareholders must be returned to us. Our Board of Directors and Board of Commissioners will be jointly and severally responsible if the interim dividend is not returned to us.
Wisma Barito Pacific Tower B, 8th Floor
Jl. Let. Jend. S. Parman Kav. 62 - 63
Jakarta 11410, Indonesia
Phone : (62-21) 530 6711
Faximile : (62-21) 530 6680
Website : www.barito-pacific.com
Email : firstname.lastname@example.org
Jl. Kuin Selatan RT 007 No.44
Kelurahan Kuin Cerucuk , Kecamatan Banjar Barat
Banjarmasin, Kalimantan Selatan
Telepon (0511) 4368757
Fax (0511) 4366879
Jl Kapten Piere Tendean No. 99
Banjarmasin 70231. Kalimantan Selatan.
Telepon (0511) 3253384
Fax (0511) 3350234
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