BBCA - To disburse dividend amounting IDR5.2 tn

BBCA - To disburse dividend amounting IDR5.2 tn Bank Central Asia (BBCA) will distribute an interim dividend in December 2023. In an official announcement, management decided to distribute an interim dividend worth IDR 42.5 per share based on financial performance as of Sept23. Schedule of this corporate action are: the cum and ex dividend on 1,5 dec23 and 4,6 Dec23, while recording date on 5 Dec23 and payment date on 20 Dec23. (Source: Bisnis Indonesia). Comment: We like BBCA interim dividend which continue to become as one of stocks attractiveness to investor. With a total of BBCA shares listed on the Indonesia Stock Exchange is 123.275 billion shares, the dividend interim reached IDR 5.23 tn. We expect ‘23F BBCA’s dividend yield to reach 2.29% using closing price of IDR8,925/share (23/11/23). Maintain BUY BBCA with DDM TP of IDR10,520 (4.8x ’24F P/B).