POLICIES, ANNOUNCEMENTS AND PAYMENT OF DIVIDENDS
DIVIDEND POLICY
In connection with the merger of PT Pelabuhan Indonesia I (“Pelindo I”), PT Pelabuhan Indonesia III (“Pelindo III”), and PT Pelabuhan Indonesia IV (“Pelindo IV”) into PT Pelabuhan Indonesia I (Pelindo II), as the result of the merger on October 1, 2021, the dividend policy for each company is presented as follows:
In accordance with the prevailing laws and regulations in Indonesia, and the Company’s Articles of Association, net profit can be distributed to Shareholders as dividends after a provision for mandatory reserve funds, as required by law. The dividend distribution must be approved by the Shareholders through an Annual General Meeting of Shareholders (GMS resolution) based on the recommendation of the Company;
The annual payment of dividends was based on a General Meeting of Shareholders (GMS) resolution, in accordance with PMK No. 05/ PMK.02/2013 concerning Procedures for Depositing Non-Tax State Revenue from dividends, dividend payments are made no later than 1 (one) month after the dividend is determined by the Shareholders. The amount of dividends determined will be a certain percentage of Pelindo II’s net profit (after tax) attributable to Shareholders. The dividend policy is based on fulfilling the interests of Shareholders and Pelindo II’s business development plans;
The Company distributed dividends to the Government of the Republic of Indonesia as Shareholders based on a General Meeting of Shareholders (GMS) resolution. As a State-Owned Enterprise (SOE) with core competencies in the field of port services, Pelindo III was committed to providing dividends to Shareholders (Ministry of SOEs), and to facilitating logistics integration in an effort to support development in the macroeconomic sphere. The determination of dividends was carried out by the Shareholders in the GMS. The proposal for determining dividends by the Company was based on the interests of the Company after considering business continuity, strategies that will be and are being implemented, as well as investment plans; and
The Company is a State-Owned Enterprise (BUMN) whose shares are 100% owned by the Government of the Republic of Indonesia. The payment of dividends is fully the right of the Government. The determination of dividends to be paid to Shareholders was based on a Ministry of SOEs resolution, as the GMS and proxy of the Shareholders.
