JAKARTA – Shareholders of PT Bank Mega Tbk (MEGA) agreed upon cash dividend distribution plan worth IDR 2.46 trillion for the fiscal year 2023, taken out of the net profit of IDR 3.51 trillion.

Said amount is equal to 70% of net profit of the company recorded at the end of December 2023. The allocation was approved by shareholders during the Annual General Meeting of Shareholders (AGMS) of Bank Mega held last Friday, March 1, 2024.

The ratio does not change from the dividend payout ratio of Bank Mega seen in 2023, which was also 70% of total net profit in 2022. On March 7, 2023, MEGA distributed dividend of IDR 2.83 trillion or equal to IDR 241 per share.

This year, with the number of listed shares of 11,740,923,365, as of January 31, 2024, the dividend of MEGA is projected to reach IDR 209.3 per share. It is worth mentioning that MEGA was closed at IDR 5,000 per share at yesterday’s (5/3) closing bell in Indonesia Stock Exchange (IDX).

As of December 2023, MEGA reported net interest income of IDR 5.53 trillion and net profit of IDR 3.51 trillion. Both posts reportedly declined 5.7% year-on-year (yoy) and 13.4% yoy.

For information, Bank Mega’s shareholders also approved the allocation of IDR 70 million of total net profit as reserves, as well as another IDR 1 trillion as earnings. (ZH)