TLKM - Proposes 80% dividend payout ratio

Telekomunikasi Indonesia (TLKM) is proposing dividend payout ratio of up to 80% of its FY22 net profit during AGM slated to be held on May 30, management has said. TLKM's FY22 net profit stood at IDR20.7 tn. (Source: Bisnis) Comment: TLKM's dividend payout ratio is higher than previous year's of 65%. TLKM has been steadily disbursing large payout ratio compared to other telcos thanks to its superior cash position and manageable leverage. We believe that generous dividend will not impact its capex planning that steadily is pegged at 25% of revenue.