JAKARTA KOMPAS — Indonesia’s property developer, PT Intiland Development Tbk. is to distribute dividend, the first time in a decade. Intiland is also prioritizing the development of big-scale projects to spur the business growth.
“Shareholders approved of the company’s plan to pay as much as IDR 31.09 billion for dividend, or 22.2 percent of the company’s 2011 net income,” Director of Investment and Capital Management at Intiland, Archied Notopradono, said after Intiland’s annual General Meeting of Shareholders in Jakarta on Tuesday (26/ 6).
In 2000 the company distributed dividend, taken from the company’s 1999’s revenue, at the amount of IDR 0.20 per share. The decision to pay the dividends was made with the consideration that at present the development of Intiland is on the right track. The company’s performance and business prospects are also deemed improving, and the company’s retained earnings are in the positive balance.
Intiland’s management is of the opinion that along with the development and the launch of the company’s new projects, the company’s business foundation is noted to be stronger than before. The new projects will become the company’s driving force for the development and they will give big contribution to the performance and recurring earnings.
“This year is to be the beginning of the development era for Intiland, as we are introducing many new projects,” Archied added.
The company has started the development of at least seven projects in various segments in Jakarta and Surabaya.
For the development of these projects, this year Intiland has allocated capital expenditure of around IDR 1.5 trillion. The source of the capital expenditure comes from initial sales, operating capital and bank loans. (BEN)