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Matahari Department Store shared dividend Rp1.25t


Indonesia retail operator PT Matahari Department Stores Tbk  (IDX: LPPF) allocated of Rp 1.25 trillion or 70 percent  of 2015’s net profit for cash dividend or Rp 427.30 per share and to be paid on 29 June 2016. The balance of Rp 534 billion will be recorded as retained earnings. In 2015, gross sales recorded Rp 16.0 trillion, up 10.8 percent over 2014 while net income increased by 25.5 percent to Rp 1,781 billion. Michael Remsen, Vice President Director and CEO of the company stated that last year has opening 11 new stores and another 3 through May 2016. With these openings, Matahari now has 145 stores operating located in 67 cities across Indonesia. Management remains optimistic in terms of the sales outlook for the balance of the year and is particularly encouraged by the faster pace of the store openings materializing in 2016.


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Source: The Insiderstories
Matahari Department Store shared dividend Rp1.25t

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