Jakarta. Instant noodle giant Indofood CBP Sukses Makmur agreed on Friday on a dividend payout of Rp 2.1 trillion ($140 million), nearly half of the company’s net profit in 2022.

The dividend payment, agreed upon by the annual general meeting of shareholders, is equivalent to Rp 188 per share from 11.6 billion Indofood shares circulating in the market.

The company reported a net profit of Rp 4.5 trillion last year, down by 28.3 percent from Rp 6.3 trillion a year earlier due to soaring prices of raw materials.

The shareholders “authorize the board of directors to determine the date and the mechanism of the cash payment of dividends and carry out the payment”, the decision from the meeting reads.