GZCO’s is distributing 29% of its 2009 net profit in cash dividend, which amounted to Rp12 per share – to be paid out in May 12, 2010.
GZCO has allocated Rp280 bn for 2010 capex, which will be used for: 1) new palm planting (7,400 ha, Rp90 bn); 2) estate up-keeping (Rp90 bn): and 3) CPO mill development in South Sumatra (90 tph capacity, Rp100 bn).
GZCO is targeting 16% net profit growth in 2010 to Rp204 bn.
Sales comment: Dividend yield of 2.9% at the current price.
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