Indonesian consumers felt more optimistic in May than they have in the past 17 years, thanks to better job availability and expectations incomes will rise, a survey by the central bank showed on Wednesday (07/06). (Reuters Photo/Dwi Oblo)
Matahari to Distribute Rp 1.2 Trillion in Dividends
BY :TABITA DIELA
MAY 27, 2016
Jakarta. The annual general shareholder meeting of Indonesian retail chain Matahari Department Store approved a plan on Thursday (26/05) to distribute Rp 1.2 trillion ($88 million) in dividends — the equivalent of 70 percent of the company's net income last year.
The meeting also approved the appointment of Johanes Jany as a commissioner and welcomed the former president director of Multi Prima Sejahtera and Multipolar, Eddy Harsono Handoko, as a director.
"[The dividend] shows our commitment to increase our stakeholders' returns," Matahari Department Store vice president director and chief executive Michael Remsen said in a statement.
Remsen mentioned the company's plan to open three more stores this month after opening 11 throughout Indonesia last year. The retail chain currently has 145.
"Management remains optimistic in terms of the sales outlook for the balance of the year and is particularly encouraged by the faster pace of the store openings materializing in 2016," the statement said.
Matahari's gross sales rose 10.8 percent to Rp 16 trillion last year compared to the previous year. The company booked Rp 1.8 trillion net income in 2015, up 25.5 percent from a year earlier.
Board of directors:
President director: Bunjamin J. Mailool
Vice president director: L. Michael Remsen
Director: Andy N. Purwohardono
Director (independent): Andre Rumantir
Director: Eddy Harsono Handoko
Board of commissioners:
President commissioner (independent): John Bellis
Independent commissioner: Jonathan L. Parapak
Commissioner: Sigit Prasetya
Commissioner: Henry Jany Liando
Commissioner: William Travis Saucer
Commissioner: John Riady
Independent commissioner: Herbert Stepic
Commissioner: Niel Byron Nielson
Commissioner: Johanes Jany
Matahari Department Stores and the Jakarta Globe are both affiliated with the Lippo Group.