SUNI Ups Dividend Payout by 354% on Soaring Profit, New Factory Nears Completion

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JAKARTA, Investortrust.id — PT Sunindo Pratama Tbk, or SUNI, a key supplier of seamless pipes and oil country tubular goods (OCTG) for Indonesia’s oil and gas industry, will pay a cash dividend of Rp 50 billion ($3.06 million), marking a 354% increase from last year’s Rp 11 billion ($673,000). The dividend represents 24.35% of the company’s 2024 net income.

The announcement was made during Sunindo’s Annual General Meeting of Shareholders (AGMS) for the 2024 financial year, held on Thursday, June 12, in Jakarta. President Director Willy Chandra said the company’s strong financial performance had enabled it to reward shareholders more generously this year.

In addition to the dividend, shareholders approved an allocation of Rp 1 billion ($61,200) as statutory reserves and retained Rp 154 billion ($9.4 million) as undistributed profit.

Net Profit Doubled in 2024

Sunindo posted a net profit of Rp 205.1 billion ($12.6 million) in 2024, up 103.6% year-on-year. Revenue rose 37.3% to Rp 1.047 trillion ($64.1 million), exceeding the full-year revenue target by 5.3%. The growth was largely driven by higher OCTG tubing and casing sales volumes, which jumped 40.2% and 21.4%, respectively.

The company had revised its 2024 performance target upward in the second half of the year, following robust first-half results.

 

Strong Start in 2025

In the first quarter of 2025, Sunindo recorded a net profit of Rp 66 billion ($4 million), doubling its year-on-year performance and achieving 31% of its full-year profit target. Revenue for the quarter reached Rp 314 billion ($19.2 million), up 93% from the same period last year, representing 28% of the 2025 target.

Finance Director Freddy Soejandy emphasized the company’s confidence in meeting its full-year goals, citing the strong Q1 performance.

Factory Expansion in Batam

Sunindo is also finalizing construction of its second plant, operated by PT Rainbow Tubular Manufacture (RTM), in Batam. The facility is scheduled to begin commercial operations in 2026. The company spent Rp 56 billion ($3.4 million) in capital expenditure during Q1 2025, part of a Rp 175 billion ($10.7 million) capex plan for the year.

Dividend Payment Schedule

• Cum dividend (regular and negotiated markets): Friday, June 20, 2025
• Ex dividend (regular and negotiated markets): Monday, June 23, 2025
• Cum dividend (cash market): Tuesday, June 24, 2025
• Shareholder recording date: Tuesday, June 24, 2025
• Ex dividend (cash market): Wednesday, June 25, 2025
• Dividend payment: Wednesday, July 16, 2025