Garuda Indonesia Now Can Pay Dividends to Shareholders

The national airline Garuda Indonesia can now distribute dividend to its shareholders after the company accelerate the repayment of debt owed to the Export Credit Agency (ECA) and the Commercial Lenders (CL) of U.S. $ 62.5 million. Previously, in an enterprise agreement prohibited from paying dividends for a few years because they still have this debt. "Yes, Garuda is now able to distribute dividends," said President Director of Garuda Indonesia, as quoted by The Jakarta Post.
Garuda Indonesia has still not distribute dividends to shareholders despite profit earned every year since the airline's shares are sold to the public in 2011. Based on the company's annual report, Garuda Indonesia earned a profit since 2011-2013, with respectively U.S. $ 67.18 million in 2011, U.S. $ 110.6 million in 2012, and U.S. $ 11.04 million in 2013.
Senior Vice President Corporate Communications Garuda Indonesia Pujobroto said that the airline has used internal funds to pay off his debts early. "However, we still need to be approved by the general meeting of shareholders (AGM) to distribute dividends," said Pujobroto.