Kobexindo Tractors Tbk PT (KOBX) plans to distribute dividends of U.S. $ 1.2 million or equivalent to Rp 11.4 billion. This dividend equal 23% of the company’s net profit in 2012.
Each shareholder will receive dividends KOBX Rp 5 per share. The Company will put about 77% or U.S. $ 3.99 million of net income as retained earnings and general reserves.
The funding will be used to strengthen the Company’s capital structure, especially in business development and financing of the Company’s operations and its subsidiary entities.
“The decision has considered the need for capital to fund the Company’s business and operational expansion.” Explained Director of Public Relations Kobexindo Soputro in a written statement on Wednesday (06/12/2013).
Throughout 2012, the Company posted revenue of U.S. $ 131 million. Revenue was driven by sales of heavy equipment, parts, and revenues from repair services.
Heavy equipment sales segment revenue in 2012 was U.S. $ 114 million dollars. This segment is the largest revenue contribution by donating 87% of the Company’s total revenues in 2012.
The second contributor to revenues derived from spare parts and service segment of U.