The Annual General Meeting of Shareholders (AGMS) of PT Triputra Agro Persada Tbk (TAPG) approved the distribution of dividends for the 2020 fiscal year of a total of Rp300 billion.

Regarding performance, throughout 2020, the company posted a net profit for the year reaching Rp933 billion or grew 397.4% compared to the same period the previous year of Rp188 billion.

As for the AGMS, the use of net profit attributable to owners of the parent entity of Rp 911 billion was allocated as a mandatory reserve fund of 20% of the total issued and paid-up capital of Rp397 billion, dividend distribution of Rp300 billion, and the three additional working capital of Triputra Agro Persada of Rp214 billion.

President Director of Triputra Agro Persada, Tjandra Karya Hermanto, explained at the AGM that the proceeds from the initial public offering obtained by TAP after deducting issuance costs and other related costs amounted to Rp160 billion.

"The proceed