PT Sawit Sumbermas Sarana Tbk (SSMS) will distribute dividends of Rp290.43 billion from last year's profit, equivalent to 50% of last year's SSMS profit of Rp580.85 billion.

Based on the Indonesia Stock Exchange (IDX) information disclosure (4/6), the company will distribute a dividend of Rp30.49 per share. This dividend distribution has been approved at the SSMS annual general meeting of shareholders on 28 May 2021.

Based on the 2020 financial report released on Wednesday (31/3), SSMS revenue rose 22.26% to Rp4.01 trillion last year.

Sawit Sumbermas' net profit even shot up 49 times to Rp580.85 billion in terms of the bottom line.

Sawit Sumbermas will set aside Rp116.79 billion from last year's profit as a mandatory reserve. Meanwhile, the remaining Rp174.26 billion profit will be recorded as retained earnings.

With SSMS's share price at Rp905 per share on Friday morning, Sawit Sumbermas' dividend yield is 3.