JAKARTA – PT Sunindo Pratama Tbk (SUNI), an OCTG pipe manufacturer, is preparing to distribute dividend of IDR 11 billion for the fiscal year (FY) 2023 on July 12, 2024.

With the number of listed shares as of May 2024 reaching 2.5 billion, the allocation of dividend per shares is IDR 4.4. The total amount is equal to 10.91% of its net profit in December 2023, of IDR 100.86 billion.

The dividend per share of SUNI has increased 46.67% from the allocation set for FY 2022, which was stuck at IDR 3 per share. It is, indeed, in line with its net profit that skyrocketed as high as 38.6% year-on-year (yoy) in 2023.

The recording date is set to June 26, 2024, with cum and ex dividend in the regular and negotiation market on June 24 and 25, followed by cum and ex dividend in the cash market on June 26 and 27, 2024.

According to SUNI’s stock price that arrived at IDR 535 per share as of 1.32 PM WIB today (12/6), the indicated dividend yield is only 0.8%.

It is worth mentioning that until May, 64.6% of SUNI are under the control of Soe To Tie Lin, the founder and now President Commissioner of SUNI, followed by another 11.4% that belongs to Willy Chandra, President Director of the Company. The remainder, 24%, are public investors’ portion. (ZH)