JAKARTA – Shareholders of PT Dharma Satya Nusantara Tbk (DSNG) agreed upon the plan of distributing cash dividend for the fiscal year (FY) 2023 of IDR 22 per share, although its net profit sank 30.42% year-on-year (yoy).

As is known, DSNG reported net profit decline to IDR 839.8 billion at the end of 2023 from IDR 1.21 trillion seen in 2022.

Therefore, it is no surprise that the amount of dividend follows the path, down 26.67% from IDR 30 in FY 2022 to IDR 22 in FY 2023.

However, Annual General Meeting of Shareholders (AGMS) of the company held today (5/6) still approved the distribution of IDR 233.2 billion as cash dividend, which are equal to 28% of total 2023 net profit.

According to the management, since its IPO in 2013, DSNG has consistently allocated dividend to its shareholders.

“As a public company, we are committed to always provide added value to shareholders through profit sharing, although global economic condition is slowing down, and geopolitical factors trigger surge in fertilisers’ price,” said Andrianto Oetomo, President Director of DSNG, in its official release.

The cum and ex dividend date has yet to be disclosed by the management. However, with the stock price of IDR 660 per share as of 2.23 PM WIB, as well as the dividend allocation of IDR 22 per share, the indication of dividend yield reaches 3.33%. (ZH)