JAKARTA. PT Semen Baturaja Tbk (SMBR), one of state-owned cement manufacturer, is allocating 20% of its 2023 net profit, or IDR 24.3 billion, to be distributed as cash dividend.

Hari Liandu, VP of Corporate Secretary of SMBR, mentioned that said allocation follows the result of Annual General Meeting of Shareholders of the company held last Wednesday (29/5). In said meeting, the shareholders also approved the allocation of 80% of its net profit or IDR 97.26 billion as retained earnings.

According to IDNFinancials data, SMBR reported net profit of IDR 121.57 billion in 2023. Its net profit shifted 57.22% year-on-year (yoy) from the same period in 2022 of IDR 69.25 billion.

SMBR’s cash dividend will be distributed to shareholders whose names have been listed by the recording date on June 10, 2024. Then, the cash dividend payment is scheduled to take place on June 28, 2024. The dividend per share is set to IDR 2.44.

As of now, 76% of SMBR are under the control of PT Semen Indonesia (Persero) Tbk (SMGR), while PT Asuransi Jiwa IFG owns another 7%, followed by public investors of 17%.

SMBR’s stock price at the closing of the first session of trading today (3/6) were seen climbing 2 points or 1% to IDR 202 per share. However, since the beginning of this year, the price has actually slipped 80 points or 28.37%. (KR/ZH)