JAKARTA - PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM) or Bank Jatim will distribute dividends of Rp 683.86 billion or Rp 45.61 per share for the 2018 fiscal year. In that year the company posted profit growth of 8.71% to Rp 1.26 trillion.
According to Bank Jatim Finance Director Ferdian Timur Satyagraha, dividend distribution shows the company’s commitment to prioritise the interest of stakeholders without negatively affecting capital adequacy.
“We routinely do annual dividend payouts since our IPO in 2012,” Mr Satyagraha told Bisnis Indonesia, Monday (6/5).
Mr Satyagraha added that the mechanism of dividend distribution is done measurably, and that the dividend payout will not be as large as the company’s profit growth. “For example our profit growth last year was 8.71%, but the dividend payout portion is only in the range of 3%. Thus, we still have enough space to maintain capital adequacy,” he concluded. (MS)