JAKARTA – Amid market turmoil following the second trading halt on the IDX this year, ceramic producer PT Arwana Citramulia Tbk (ARNA) has announced a dividend distribution of IDR 43 per share for the 2024 financial year.

The total dividend payout of IDR 319.6 billion was approved at the company’s Annual General Meeting of Shareholders (AGMS) held today (8/4) at ARNA’s Plant 2 in Banten.

“This year, we will also pay out the dividend on April 29, with the same dividend per share [as for the 2023 financial year], IDR 43 per share,” said Rudy Sujanto, Chief Financial Officer (CFO) of ARNA.

As previously reported by IDNFinancials.com, ARNA’s net profit fell 4.4% year-on-year (yoy) in 2024 to IDR 429.5 billion, despite a 7.5% increase in revenue to IDR 2.6 trillion.

This brings ARNA’s dividend payout ratio to 74.4%, higher than the 71% set for the 2023 financial year.

Based on ARNA’s share price of IDR 615 at the close of the first trading session today (8/4), the dividend yield stands at 7%.

Following the IDX trading halt at 9.06 AM WIB this morning (8/4), ARNA’s share price dropped as much as 13.3% by around 9.30 AM to IDR 585.

As of midday, ARNA’s shares were down 8.89%. Over the past year, the stock has fallen 14%, and is down 10.9% year-to-date. (ZH)