The Annual General Meeting of Shareholders (AGMS) of PT Intiland Development Tbk (DILD) decided not to distribute dividends for the 2020 financial year.

DILD will allocate Rp74.8 billion as retained earnings. Meanwhile, the remaining Rp2 billion will be assigned as mandatory reserves.

"The Covid-19 pandemic that has occurred since March 2020 has had a significant impact on the economy at large, including the national property sector," said President Director of PT Intiland Development Tbk Archied Noto Pradono on Tuesday (22/6).

This condition also directly caused a decline in the company's business performance, mainly due to the drop in sales figures.

The property market experienced a contraction due to lower demand and property purchases from the public. As a result, consumers and property investors tend to delay purchases and wait for a change in the situation.

Facing this situation, DILD has determined the number of