Dividends

The Company pays dividends based on its financial condition and income, taking into consideration the Company’s business plans, funding requirements for new investments, appropriate reserves and working capital requirement for the ensuing fiscal year. The Company has yet to adapt a formal dividend policy. Dividends are approved at the Annual General Meeting of Shareholders.

At the Annual General Meeting of Shareholders held on May 16, 2024, the shareholders approved the distribution of cash dividends of IDR 281 per share, or a total of IDR 224.9 billion from the Company’s profit and retained earnings for the fiscal year ending December 31, 2023. This is 13.5% lower than the IDR 325 per share or total dividends of IDR 260.2 billion declared on May 17, 2023 and reflects a payout ratio of 113%, which is at the same level declared in the previous year.

In compliance with regulations, the appropriation of cash dividends from the Company’s profits for the financial year ended December 31, 2024 will be tabled for approval at the Annual General Meeting of Shareholders in 2025.