JAKARTA – PT Pakuwon Jati Tbk (PWON), a property and real estate company, plans to distribute a larger dividend for the 2024 financial year.

Ivy Wong, Director of Business Development at PWON, stated that this plan is supported by the company's strong cash position. According to idnfinancials.com, the owner of Indonesia’s largest malls had IDR 8.77 trillion in cash and cash equivalents as of 30 September 2024.

“Dividends are certain, and we have strong cash reserves,” Ivy said during a Meet & Greet session with CGS International Sekuritas Indonesia on Thursday (27/2).

However, Ivy also noted that part of the cash will be used for PWON’s upcoming projects. “We will distribute dividends, and it looks like it will be much larger than last year,” she added.

In the past three years, PWON has consistently increased its dividend distribution. The company paid a cash dividend of IDR 4 per share for the 2021 financial year, IDR 6.65 per share for 2022, and IDR 9 per share for 2023.

Currently, PWON's dividend yield stands at 2.34%, higher than other property and real estate companies, such as PT Summercon Agung Tbk (SMRA) at 2.31%. (KR/ZH)