JAKARTA – PT Metropolitan Land Tbk (MTLA) has allocated 18.35% of its net profit for the 2024 financial year, totalling IDR 469.25 billion, as cash dividends. The company’s total dividend for 2024 has increased in line with its rising net profit.

According to a disclosure on Tuesday (3/6), MTLA Director Olivia Surodjo stated that the Annual General Meeting of Shareholders (AGMS) held last week (28/5) approved the appropriation of the company’s 2024 net profit.

The dividend allocation has been set at IDR 86.12 billion, or IDR 11.25 per share, while IDR 1 billion will be set aside for reserve funds, and the remaining profit retained as working capital.

MTLA’s profit for the 2024 financial year rose 12.36% from the 2023 figure of IDR 417.60 billion. Retained earnings also increased 10.21% to IDR 4.14 trillion, while total equity grew 8.54% to IDR 5.58 trillion.

For comparison, in the 2023 financial year, MTLA distributed a total dividend of IDR 83.51 billion or IDR 10.91 per share, equivalent to 20% of net profit.

As of the second trading session at 2:04 PM WIB on Tuesday (3/6), MTLA’s share price was flat at IDR 426, unchanged from its opening.

The company’s shares have remained relatively stable, declining only 0.93% over the past week and easing 0.47% over the past month. (LK/ZH)