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BTN to distribute cash dividend of Rp 20.92 billion

12 March 2020 19:31

JAKARTA - PT Bank Tabungan Negara Tbk (BBTN) will distribute cash dividends for 2019 fiscal year amounting to Rp 20.92 billion. This amount is equivalent to 10% of the company's net profit last year which was recorded at Rp 209 billion.

Therefore, dividend per share is at Rp 1.98 and earnings per share is Rp 19.76. The remaining 90% of the 2019 net profit or around Rp 188 billion will be used as retained earnings. From the amount of profit to be allocated for dividends, around Rp 12.55 billion will be distributed to the government.

"Schedule for cash dividends, for payment date is on April 15. The cum dividend date for the regular market is on March 20," explained Pahala Nugraha Mansury, BTN President Director at a press conference.

Pahala explained that BTN's profit dropped dramatically from Rp 2.8 trillion in 2018 to Rp 209 billion in 2019. This was due to the increased NPLs and Impairment Losses Reserves (CKPN) of around Rp 3.7 trillion. The company is targeting this year’s profit in the range of Rp 2.5 trillion - Rp 3 trillion. (LM)

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