SIDO – Distribute IDR378 bn in interim dividends

SIDO – Distribute IDR378 bn in interim dividends Industri Jamu dan Farmasi Sido Muncul (SIDO), the maker of Tolak Angin, intends to distribute a generous interim dividend in 2023. The company announced that it will pay out IDR12.6 per share, totaling IDR378 bn, equivalent to 84.35% of 1H23 profit attributable to SIDO's parent entity. This interim dividend, which will be paid on November 20, 2023, is lower than in previous years when SIDO distributed IDR15.3 and IDR13.5 per share as interim dividends in 2021 and 2022, respectively. The distribution occurs amid the company's challenging performance outlook for the remainder of 2023, with strategies in place, including expanding its presence in the Philippines and exploring opportunities in the domestic essential oil market. However, SIDO faces cautious consumer spending due to rising essential living costs. (Source : Bisnis Indonesia)