Decisions regarding dividends of PT Dana Brata Luhur Tbk are made by the shareholders through the General Meeting of Shareholders upon the recommendation of the Board of Directors based on Indonesian law. The company may declare dividends every year if it has positive earnings. Prior to end of financial year, an interim dividends may be distributed as long as it is permitted based on the company articles of association and provided that the interim dividend does not result in its net assets becoming less than the total issued and paid up capital and taking into account allowances for compulsory reserves as required in the Company Law (“Compulsory Reserves”). Such distribution is determined by the Board of Directors after first being approved by its Board of Commissioners.
The amount of dividends to be distributed will depend on cash flow, investment plans, liquidity conditions, future business prospects, and other factors deemed relevant by the Board of Directors as well as the provisions of restrictions on dividend payments based on the relevant agreement.
To the extent a decision is made to declare dividends, dividends will be paid in Rupiah. Holders of the Shares on the applicable record dates will be entitled to the full amount of dividends approved, subject to any Indonesian withholding tax imposed. Dividends received by a non-Indonesian holder of Shares will be subject to a maximum of 20% Indonesian withholding tax.
Our dividend policy is a statement of present intention and not legally binding as it is subject to modification at the Board of Director’s discretion.