INTP - PT. Indocement Tunggal Prakarsa Tbk

Rp 7.325

-125 (-2,00%)

JAKARTA - PT Indocement Tunggal Perkasa Tbk (INTP) readies the dividend distribution for the fiscal year 2022, which is set to IDR 548.97 billion, on June 8, 2023. Amidst the cement market slump, this year’s dividend is the smallest INTP has ever distributed in, at least, the past 10 years.

According to the Annual General Shareholders Meeting of INTP held earlier today (17/5) in Jakarta, 99.7% of the present shareholders agreed upon the allocation of dividend of IDR 160 per share, or 29.8% of the total net profit in 2022, which reached IDR 1.84 trillion. The remaining IDR 1.26 trillion is then stored as retained earnings.

It is worth mentioning that INTP has never abstained from distributing impressive amount of dividend since 2010. For the fiscal year 2016, INTP even disbursed final dividend of IDR 3.42 trillion. It is not a rare occurrence for this company to set the dividend payout ratio (DPR) to over 100%, indicating that the company had taken some portions of the retained earnings as cash dividend to be given to its investors.

However, this year, the company is quite cautious regarding the allocation of the net profit. It serves as an anticipatory initiative against the dwindling cement industry, which has yet to recover until the first quarter of 2023. For comparison, in 2022, INTP channelled out 97.33% of the net profit in 2021 as cash dividend, equal to IDR 1.74 trillion.

The management of INTP has also scheduled the dividend distribution on June 8, 2023. The dividend will then be disbursed to listed shareholders by the recording date on may 30, 2023. It sets the cum and ex dividend in the regular and negotiation market on May 26 and 29, 2023, followed by the cash market on May 30-31, 2023. (ZH)