JAKARTA – PT Matahari Department Store Tbk (LPPF) has proposed a cash dividend of IDR 300 per share at the upcoming Annual General Meeting of Shareholders (AGMS) on April 10, 2025.

If approved, the dividend for the 2024 financial year will increase by 50% compared to the IDR 200 per share distributed for the 2023 financial year.

This dividend increase aligns with the company's strong performance. According to IDNFinancials.com data, LPPF recorded a net profit of IDR 827.65 billion in 2024, up 22.5% from IDR 675.3 billion in 2023.

Meanwhile, based on information from the Indonesia Stock Exchange (IDX), as of February 28 2025, LPPF had a total of 2.26 billion shares in circulation.

With a projected dividend of IDR 300 per share, the total dividend allocation is estimated to reach IDR 677.8 billion, approximately 80% of the 2024 net profit.

LPPF’s stock price rose by 2.45% to IDR 1,880 per share today (12/3). At this price, LPPF’s indicative dividend yield is 15.96%.

For information, at the upcoming AGMS, LPPF will also seek shareholder approval for a share buyback plan, with a budget of IDR 150 billion. (DH/ZH)