JAKARTAL: Investors has rejected the IDR10 per share dividend proposed by management of PT Multipolar Tbk (MLPL), making extraordinary of shareholders's meeting (EGM) today is getting tough. "The proposed dividend is too small. This is not in line with announcement published in the newspaper by Multipolar last year. If the company posts more than IDR100 billion net income, it shall distribute 15%-25% of dividend payout ratio," an invidual investor who is attending the EGM today.Multipolar, the holding company of Mataharis group, proposes IDR77.28 billion dividend or equals to IDR10 per share from last years net income at IDR2.8 trillion.Such dividend equals to the dividend payout ratio as much as 2.76%. This year, the company projects IDR12 trillion revenues or surged by 7.2% compared to last years accomplishment at IDR11.2 trillion. The company also seeks its recurring income to grow by 23.9% to IDR12 trillion from last years position at IDR9.7 trillion. (T02/wiw)
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