JAKARTA – PT Mutuagung Lestari Tbk (MUTU) fulfils its promise stated in its IPO prospectus last year by allocating dividend of 30.45% of its 2023 net profit despite 15.8% year-on-year (yoy) contraction.

“For the dividend in the fiscal year (FY) 2023, we will distribute IDR 3 per share,” said Sumarna, Director of MUTU, during the 2024 Annual Public Expose of MUTU today (26/6).

With listed shares of 3.14 billion, MUTU’s total dividend for FY 2023 is set to IDR 9.43 billion.

In 2023, MUTU reported net profit attributable to the parent entity of IDR 30.9 billion, which brings the dividend payout ratio to 30.5%.

Sumarna then mentioned how this decision is in line with MUTU’s commitment to investors to allocate a maximum of 30% of net profit as dividend at the end of fiscal year, as stated in MUTU’s initial prospectus.

MUTU has not even reached its first year in the stock market. However, the company still records poor stock performance with the downtrend of up to 39% from IDR 130, its closing price on August 9, 2023, to IDR 80 per share seen at the opening of today’s (26/6) afternoon session.

In other words, referring to its dividend per share of IDR 3, and the relatively stagnant stock price at IDR 80 per share, the indication of dividend yield of MUTU reaches 3.75%. (ZH)