JAKARTA. PT MSIG Life Insurance Indonesia Tbk (LIFE), an insurance under Mitsui Sumitomo and Sinarmas, will allocate cash dividend of IDR 79.8 billion or IDR 38 per share taken out of its net profit in 2023.

Leony Samosir, Corporate Secretary of LIFE, mentioned that the cash dividend allocation is equal to 63% of 2023 net profit. “It is according to the result of Annual GMS on June 24, 2024,” said Samosir in the information disclosure in Indonesia Stock Exchange (IDX).

Cash dividend will be given to LIFE’s shareholders whose names have been listed by the recording date on July 5, 2024. The payment of this cash dividend will then be made on July 25, 2024.

According to IDNFinancials data, LIFE reported net profit of IDR 126.48 billion in 2023. At the end of said year, retained earnings were at IDR 129.22 billion, and total equity was IDR 7.49 trillion.

As of now, 80% of LIFE is under the control of Mitsui Sumitomo Insurance Co. Ltd. Then, another 12.50% belongs to PT Sinar Mas Multiartha Tbk (SMMA), while the remaining 7.50% goes to public investors. (KR/ZH)