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Stake Holder : Textile Industry Needs Fundamental Changes

PT Eratex Djaja Tbk (ERTX) distributed cash dividends for the 2021 fiscal year of Rp 3.73 billion. The dividend distribution decision was approved at the company's Annual General Meeting of Shareholders (AGMS) on July 29. In the disclosure of information on the Indonesia Stock Exchange (IDX), the company will distribute dividends on September 1, 2022. Later, shareholders will receive a cash dividend of Rp 2.91 per share. Throughout 2021, this textile company earned a net profit of USD 1.58 million or equivalent to Rp. 23.61 billion, turning a profit from a previous loss of USD 970,496.

Meanwhile, the company's revenue also grew by 23.88 percent to USD 93.70 million or equivalent to Rp 1.39 trillion from the previous USD 75.63 million. Export revenue contributed USD 91.78 million or equivalent to Rp 1.36 trillion. Then, local revenue was recorded at USD 1.91 million or equivalent to Rp. 28.50 billion.

On the other hand, the company's cost of revenue also increased by 24.89 percent to USD 86.95 million or Rp 1.34 trillion from the previous USD 69.62 million. One of the reasons for this increase was the use of raw materials, which also increased from USD 41.40 million to USD 53.67 million.

Meanwhile, the company's sales expenses last year were recorded at USD 1.43 million or Rp 21.32 billion. Then, manufacturing expenses were recorded at USD 10.89 million or around Rp. 162.48 billion, and general and administrative expenses were recorded at USD 2.39 million or equivalent to Rp. 35.77 billion.

The following is the schedule for the distribution of cash dividends for the 2021 ERTX financial year:

Cum Dividend Date in Regular Market and Negotiated Market: August 8, 2022

Ex Dividend Date in Regular Market and Negotiated Market: August 9, 2022

Cum Dividend Date in Cash Market: August 10, 2022

Ex Dividend Date in Cash Market: 11 August 2022

Date of Register of Shareholders (DPS) entitled to cash dividends: August 10, 2022 At 16.00 WIB

Dividend Payment Date: September 1, 2022.