PT Chandra Asri Petrochemical Tbk (TPIA) will distribute a cash dividend for the 2020 financial year of US$38.5 million.

The decision to distribute dividends was taken at the Chandra Asri Petrochemical Annual General Meeting of Shareholders (AGMS) on Thursday (15/4).

"In this Annual General Meeting of Shareholders, a cash dividend of 75% of the 2020 financial year profit or US$38.5 million has been approved," said Chandra Asri Petrochemical's management in an official statement, Friday (16/4).

The number of TPIA shares outstanding as of March 31, 2021, reached 17,833,520,260 units. Thus, the cash dividend to be distributed is equivalent to US$0.002159 per share.

Due to the performance, net profit for the year attributable to the holding company Chandra Asri Petrochemical throughout 2020 soared 124.4% YoY, from US$22.88 million to US$51.35 million.