Indonesia state-owned cement producer Semen Baturaja reported an IDR259bn (US$19.4m) in net profit last year, ANTARA News reports.

At the company's annual general meeting on Thursday, shareholders decided to pay out 25 per cent, or IDR64.772bn, of the profits as dividend. Around 76.24 per cent, or IDR49.38bn of the dividends are for the state, and the remainder for the investing public, corporate secretary, Zulfikri Subli, said.

The remaining 75 per cent of the profit will be retained and used as a reserve to support the company’s business operations.

The company noted that Baturaja’s new line is now 95 per cent complete. Baturaja II has a production capacity of 1.85Mta.

At the AGM, shareholders replaced some of the Boards of Commissioners and directors after five years of service. Harjanto has been appointed new chief commissioner with Oke Nurwan and Mahmud as members of the Board of Commissioners.

The new CEO is Rahmad Pribadi with Daconi as production and development director, M Jamil as marketing director, Amrullah as general affairs and human resource director and Dede Paresade as finance director.