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Dividend Policy

Starting November 2021, the management decided that the Dividend payout ratio of a minimum of 50% of net income annually, unless the AGMS states otherwise depending on various considerations.

Management recommends a permanent shift to a predictable interim and final dividend cycle and proposes a dividend payout of IDR 500/share for Full-year 2022 and 2023 (to be distributed in 2 interims of IDR 125/share and a final of IDR 250/share), which will be the highest in the Company’s history. The recommendation is subject to statutory approvals, buyback adjustments, and business performance.

The Board of Directors’ decision to recommend a dividend payment is based on several factors, including the amount of the Company’s net profits, the availability of reserves, contractual restrictions, working capital requirements and capital expenditure requirements for the period concerned, and the Company’s future prospects. The Company may declare dividends in any year if the Company has positive retained earnings and after deduction of reserves fund.

Prior to the end of a financial year, an interim dividend may be distributed so long as it is permitted under the Company’s Articles of Association, provided that :

  • Such interim dividends shall be taken into account in the calculation of the dividends to be further distributed according to the resolution of the Company’s subsequent GMS in accordance with the Company's Articles of Association
  • the interim dividend does not result in its net assets becoming less than the total issued and paid-up capital and the compulsory reserves
  • The distribution of interim dividends must not interfere with or cause the Company to be unable to fulfil its obligations to creditors or interfere with the Company’s activities
  • Such distribution is determined by the Board of Directors after first being approved by the Board of Commissioners

If, after the end of the relevant financial year, the Company suffers losses, the distributed interim dividend must be returned by the shareholders to the Company, and the Board of Directors and Board of Commissioners will be jointly and severally responsible if the interim dividend is not returned.

Dividend Payments

Fiscal YearTypeDividend per share (in Rp)Ex-DividendRecording DatePayment Date
2021Final Cash Dividend250.0014 April 202218 April 202228 April 2022
2021Interim Cash Dividend100.0011 November 202112 November 202102 December 2021
2018Final Cash Dividend319.9508 May 201909 May 201929 May 2019
2017Final Cash Dividend457.5008 May 201811 May 201830 May 2018
2016Final Cash Dividend484.6005 May 201709 May 201726 May 2017
2015Final Cash Dividend427.3003 June 201607 June 201629 June 2016
2014Final Cash Dividend291.8008 June 201510 June 201501 July 2015
2013Final Cash Dividend157.5012 June 201416 June 201430 June 2014
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