JAKARTA – The dividend of PT Budi Starch & Sweetener Tbk (BUDI) increased 25% for the fiscal year (FY) 2023 from 2022. Prior to this, the dividend amount does not change for two consecutive years.

Based on IDNFinancials data this Friday (14/6), the issuer plans a dividend distribution for FY 2023 worth IDR 44.98 billion or IDR 10 per share. The dividend amount is equal to 44.62% of its net profit attributable to the parent entity in 2023 of IDR 100.82 billion.

Total dividend includes interim dividend of IDR 26.99 billion or IDR 6 per share, distributed on December 1, 2023, and the remaining IDR 17.99 billion or IDR 4 per share will be shared to shareholders.

Meanwhile, approximately IDR 500 million of the net profit is allocated as general reserves, and the rest of it went to retained earnings.

In FY 222, the issuer distributed dividend of IDR 35.99 billion or IDR 8 per share. The allocation is set to 40.45% of net profit attributable to the parent entity of IDR 88.96 billion. Retained earnings were at IDR 523.27 billion, and total equity reached IDR 1.44 trillion.

For FY 2021, BUDI allocated dividend of IDR 35.99 billion or IDR 8 per share, equal to 43.74% of net profit of IDR 83.28 billion. Retained earnings and total equity were reported at IDR 470.54 billion and IDR 1.38 trillion, respectively. (LK/ZH)