JAKARTA – The Annual General Meeting of Shareholders (AGMS) of PT Bank OCBC NISP Tbk (NISP) has approved the allocation of a 2024 fiscal year dividend amounting to IDR 106 per share, or a total of IDR 2.43 trillion, which will be distributed in April 2025. The dividend will be sourced from its 2024 net profit.

This dividend value has surged 47.2% from the 2023 fiscal year dividend of IDR 72 per share, in line with a 19% year-on-year (yoy) increase in net profit, reaching IDR 4.9 trillion in 2024.

Furthermore, with this net profit amount, the dividend payout ratio for the 2024 fiscal year also increased to 49.98%, up from 40.4% in the 2023 fiscal year.

NISP’s dividends have shown consistent growth since the 2021 fiscal year, rising from IDR 22 per share in 2022, IDR 58 per share in 2023, IDR 72 per share in 2024, and now IDR 106 per share.

Based on NISP’s share price of IDR 1,325 at 11:23 AM WIB today (20/3), the indicative dividend yield stands at 8%.

However, details regarding the dividend distribution schedule have yet to be announced. In addition to the dividend distribution plan, the AGMS also approved the allocation of IDR 100 million for general reserves, with the remaining net profit retained as earnings. (ZH)