JAKARTA – PT Elnusa Tbk (ELSA), a subsidiary of PT Pertamina Hulu Energi (PHE), will distribute dividends amounting to IDR 285.47 billion, or IDR 39.11 per share for the 2024 financial year.

The decision was approved at the company’s Annual General Meeting of Shareholders (AGMS) held in Jakarta on Thursday (22/5).

The per-share dividend allocation is 42% higher than the cash dividend for the 2023 fiscal year, in line with ELSA’s 42% jump in net profit to IDR 713.7 billion in 2024.

“This increase was driven by a 7% rise in revenue to IDR 13.39 trillion, as well as operational efficiency which lifted the EBITDA margin to 10.9%,” ELSA’s management stated in its official release.

Yesterday (22/5), ELSA’s shares closed down 8.95% at IDR 478 per share. However, this morning (23/5), the stock edged up 2.93% to IDR 492 as of 9:41 AM, indicating a dividend yield of 7.9%.

As of April 2025, 51.1% of ELSA shares were controlled by PHE, followed by PT Panin Sekuritas with 7.2%, and the public holding 41.6%. (ZH)