JAKARTA - Less than a year after being listed on the stock exchange, PT Nusantara Sejahtera Raya Tbk (CNMA) is currently preparing cash dividends worth IDR 666.76 billion, or the equivalent of 97% of the company's net profit recorded in 2023.

CNMA, which is known as the company that oversees the Cinema XXI chain in Indonesia, posted a net profit attributable to the parent entity of IDR 687.8 billion in 2023. Its own net profit grew 47.1% yoy to IDR 742.3 billion.

With a total of 83.35 billion shares as of the end of February, the dividend per share was recorded at IDR 8. According to IDNFinancials data, the yield reached 3.4%.

Until the closing bell on the Indonesia Stock Exchange (BEI) yesterday (2/4), CNMA's share price was seen at IDR 236 per share, up 2.6% from the previous closing price. However, since the beginning of 2024, the shares have fallen 11.94%.

In a press release quoted today, CNMA was also said to have used up IDR 1.13 trillion in IPO proceeds at the end of December 2023. "Thus, Cinema XXI still has the remaining IPO proceeds of IDR 1.05 trillion," management claimed.

The funds raised from the IPO were used by CNMA for a major expansion of the Cinema XXI cinema, opening a total of 18 new cinemas last year. Thanks to these efforts, CNMA posted revenues of IDR 5.2 trillion, up 18.9% yoy. (ZH/LM)