The Annual General Meeting of Shareholders of PT PP Presisi Tbk (PPRE) approved cash dividend distribution for the 2020 financial year of Rp1.15 per share or Rp11.7 billion.

Finance Director of PT PP Presisi Tbk Benny Pidakso said the cash dividend distribution was 20% of the net profit attributable to owners of the parent company of Rp58.6 billion.

"Although the amount of dividends distributed has decreased from last year, we will still distribute cash dividends in the midst of the pandemic situation as a form of our commitment to increase shareholder value," Benny said in official statement on Wednesday (9/6).

After deducting 5% or Rp2.9 billion as a mandatory reserve, Rp43.9 billion or 75% is allocated as retained earnings.

These funds strengthen the capital structure, which is very much needed in the midst of the COVID-19 pandemic crisis.

Meanwhile, President Director of PT PP Presisi Tbk, Rully Noviandar, said that tha