JAKARTA - PT BPD Jawa Timur Tbk (BJTM) will issue dividend distribution of IDR 816.69 billion from its 2023 net profit. The estimated amount of dividend for the fiscal year 2023 still awaits approval from the East Java Government as the shareholder of BJTM.

In the 2023 Financial Report quoted Monday (12/2), BJTM recorded net profit of IDR 1.47 trillion in 2023. It actually slipped 4.71% year-on-year (yoy) from IDR 1.54 trillion in 2022.

The estimated amount of dividend received by East Java Government is IDR 417.54 billion, with the projected dividend payout ratio (DPR) of 54.39%. In 2022, the allocated dividend reached IDR 797.17 billion or IDR 53.09 per share, with the DPR of 51.67%.

In the past 5 years since 2019, BJTM’s profit and dividend have increased. In 2019, the net profit was IDR 1.37 trillion, with the dividend of IDR 723.74 billion. In 2020, the profit rose to IDR 1.48 billion, as did the dividend to 733.50 billion. Furthermore, in 2021, the profit was recorded at IDR 1.52 trillion with the dividend of IDR 782.45 billion.

In terms of DPR, BJTM recorded 52.58% in 2019, before slipping to 49.26% in 2020 and bouncing back to 51.37% in 2021. (LK/ZH)