The General Meeting of Shareholders (GMS) of PT Semen Indonesia (Persero) Tbk approved the company's 2020 cash dividend of 40% or equivalent to Rp1.12 trillion.

"This dividend distribution represents 40% of the current year's profit which can be attributed to the owners of the parent company in 2020 amounting to Rp2.79 trillion," said the management in Jakarta on Tuesday (30/3).

The remaining 60% or Rp1.67 trillion is designated as other reserves.

Regarding performance, throughout 2020, the company managed to achieve positive performance growth by recording an increase in profit attributable to the owner of the parent entity by 16.73% to Rp2.79 trillion compared to the same period 2019 valued at Rp2.39 trillion.

The company can maintain its performance through various strategic initiatives. The cost of revenue in 2020 has decreased, which is greater than the decrease in revenue to record an increase in EBITDA margin to 25.80%.

Also, the company manages cash flow in a disciplined manner. It implements a strict capital expenditure policy to manage cash flow from operating activities to remain positive.

Amid tight competition in the domestic cement industry, the company sells exports to various countries such as Australia, Bangladesh, Sri Lanka, and China.