JAKARTA – PT Cita Mineral Investindo Tbk (CITA) decides to distribute cash dividend for the fiscal year (FY) 2023 of IDR 463.36 billion or IDR 117 per share.

The allocated dividend this year increases significantly, nearly 12 times higher than the dividend allocation for FY 2022 of IDR 10 per share or total IDR 39.6 billion.

In fact, CITA’s net profit in 2023 was corrected by up to 24.4% yoy to IDR 718.6 billion. “However, out net profit margin rose to 21.82%, soaring from 2022’s record of 16.69%,” said the management of CITA.

Thus, CITA’s dividend payout ratio for FY 2023 reaches 64.5%. This allocation was approved by shareholders during Annual General Meeting of Shareholders (AGMS) held earlier today (28/6).

As of May 2024, out of 3.96 billion shares of CITA, 60.64% of them belong to PT Harita Jayaraya, while Glencore International still reports ownership of 31.7%. Public shares are at 7.5%.

With the dividend from CITA, PT Harita Jayaraya will receive dividend of IDR 281 billion, an addition after officially recording dividend from its nickel mining company, PT Trimegah Bangun Persada Tbk (NCKL) worth IDR 1.5 trillion, according to its AGMS yesterday (27/6).

Referring to CITA’s closing price at IDR 2,300 per share yesterday (27/6), the indication of dividend yield reaches 5.08%. (ZH)