Cinema XXI's AGMS Approves Dividend Distribution of IDR750 Billion
Jakarta, March 24, 2025 – PT Nusantara Sejahtera Raya Tbk (Cinema XXI, stock code: CNMA) held its Annual General Meeting of Shareholders (AGMS) for the fiscal year 2024 on March 24, 2025. During this meeting, shareholders approved several important decisions, including a total cash dividend distribution of IDR750 billion, which amounts to IDR9 per share, and a share buyback plan valued at IDR300 billion.
Included in the cash dividend of IDR9 per share is an interim dividend of IDR5 per share, which was paid on November 15, 2024. The remaining dividend of IDR4 per share will be paid on April 24, 2025.
"Thank you to all shareholders for your trust, which has enabled the company to achieve positive performance in 2024. The distribution of cash dividends reflects our commitment to managing the company with strong business fundamentals while continuously creating optimal value for our shareholders," said Suryo Suherman, President Director of Cinema XXI, in an official statement on Monday, March 24.
The AGMS approved the Company’s plan to conduct a share buyback, allocating a maximum fund of IDR300 billion. The maximum price for the share buyback is set at IDR270 per share, in accordance with the regulations outlined in the Financial Services Authority Regulation (POJK) Number 29 of 2023. The buyback will be executed in stages through the Indonesia Stock Exchange (IDX) over a period of up to 12 months following the AGMS.
Suryo stated that the buyback plan is anticipated to add value for shareholders and bolster investor confidence, in addition to dividend distribution.
Cinema XXI will continue to enhance sustainability efforts in all company policies. "We will focus on business development and improving the quality of service for our customers, while also implementing ESG (Environmental, Social, and Governance) principles. This is a strategic step to ensure the long-term sustainability and growth of the company," he added.
In addition to the previous two agendas, the Cinema XXI AGMS for the 2024 financial year approved the following:
● The Company’s Annual Report and ratified the Company's Consolidated Financial Statements for the 2024 financial year. The meeting provided full release and discharge (acquit de charge) to the Board of Directors concerning the Company's management actions and the Board of Commissioners regarding their oversight of the Company during the 2024 financial year.
● A report on the use of funds from the Initial Public Offering (IPO) up to December 31, 2024, totaling IDR1,719 billion. Of this amount, IDR899 billion was allocated for the development and expansion of the cinema network, IDR500 billion for partial repayment of bank debt, and IDR320 billion for working capital to support the Company's business activities.
● The appointment of a Public Accountant and a Public Accounting Firm to audit the Company's Financial Statements for the 2025 financial year, granting the Board of Commissioners the authority to determine their remuneration and other related requirements.
● The authorization for the Board of Commissioners to set the remuneration—including salaries, honorariums, and allowances—for the Board of Directors and the Board of Commissioners for the 2025 financial year.
Cinema XXI Director Tri Rudy Anitio reported, “In 2024, Cinema XXI achieved revenues of IDR5.7 trillion, reflecting a growth of 9.2% compared to the previous year. During the year, Cinema XXI opened 16 new cinema locations and added 70 screens, bringing the total number of cinemas operated to 256, with 1,350 screens across 65 cities and regencies throughout Indonesia. This expansion also contributed to an increase in audience numbers, with a total of 87.1 million viewers in 2024.”
***
About Cinema XXI
Cinema XXI, operates under the auspices of PT Nusantara Sejahtera Raya Tbk, is the largest cinema chain operator in Indonesia with more than 36 years of experience in the film exhibition industry. Cinema XXI is committed to always providing the best moviegoing experience and convenience for the people of Indonesia. As of March 24, 2024, Cinema XXI has presented 1,365 screens in 260 cinema locations across 66 cities/regencies throughout Indonesia.
In 2006, Cinema XXI launched m.tix to facilitate SMS-based cinema ticket ordering which was then developed into an online-based application. In 2012, Cinema XXI presented a movie-viewing experience with revolutionary technology, namely the IMAX theater. To better improve the services given to customers, Cinema XXI has also equipped the theaters with the latest "Dolby Atmos" audio system, which is now available on 82 screens.
Not only a place to watch movies, Cinema XXI is also a second home for people to spend quality time with family and friends. Cinema XXI presents an unforgettable moviegoing experience for today and tomorrow. For three consecutive years in 2017, 2018, and 2019 Cinema XXI has been awarded the "World Branding Award" in Kensington, London as the Best Brand in the Entertainment Cinema Category (National Tier). In early 2019, Cinema XXI was also been awarded the "Millennials Top Brand Awards" by one of the preferred media of Indonesia’s young generation as the first choice of millennials for the category of leading cinema network in Indonesia. Despite the pandemic condition, in 2020, Cinema XXI was named "Industry Champion of the Year" by the Asia Corporate Excellence and Sustainability (ACES) Awards and “Indonesia Best Managed Company” by Deloitte in 2023 and 2024.