Rows of SOEs Distributed Jumbo Trillion Rupiah Dividends in 2023

JAKARTA – A number of state-owned companies have agreed to distribute dividends to shareholders worth trillions of rupiah this year. This was approved at the General Meeting of Shareholders (GMS) for the 2023 financial year. Meanwhile, the company comes from a number of business sectors, including banking, telecommunications, and building materials providers.

For banking entities there is PT Bank Mandiri (Persero) Tbk. (BMRI), PT Bank Negara Indonesia (Persero) Tbk. (BBNI), PT Bank Tabungan Negara (Persero) Tbk. (BBTN), and PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI). Then, PT Telkom Indonesia (Persero) Tbk. (TLKM) as a telecommunications BUMN, and PT Semen Indonesia (Persero) Tbk or SIG which operates in the field of providing building materials.

The following are details of the dividends distributed by BUMN in 2024 based on the MNC Portal summary:

1. Telkom Indonesia

Telkom (TLKM) approved the distribution of cash dividends of IDR 17.68 trillion or the equivalent of 72 percent of the net profit for the 2023 financial year (dividend payout ratio). Telkom’s dividend grew by 6.5 percent from the previous year. Meanwhile, the remaining 28 percent or IDR 6.88 trillion was allocated as retained earnings to be used to finance business development.

Dividends of IDR 178.50 per share will be given to shareholders registered in the company’s shareholder register at the close of share trading on the Indonesia Stock Exchange on May 17 2024. This will be paid in one lump sum no later than June 6 2024.

2. Indonesian Cement

Through the annual GMS, Semen Indonesia or SIG approved the use of net profit attributable to the owners of the parent entity in 2023 amounting to IDR 2.17 trillion. From net profit, SIG agreed to distribute dividends to shareholders of 26.36 percent or the equivalent of IDR 572 billion. The remaining 73.64 percent or Rp. 1.59 trillion is designated as other reserves.

SIG is certain to continue to improve its capabilities by maintaining market leadership, performance and business growth, so that it can provide added value to shareholders.