BBCA - Will distribute dividends worth IDR33.2 tn

BBCA - Will distribute dividends worth IDR33.2 tn Bank Central Asia (BBCA) officially announced the dividends from its 2023 profit performance of IDR33.2 tn. This means that this amount is equivalent to 68.4% of the 2023 net profit of IDR48.6 tn. Historically, the dividend ratio distributed by the bank belonging to the Djarum Group has increased from year to year. In 2022, the dividend ratio will be around 62.12%, and in 2021, the dividend ratio will only be around 49.02%. With a total final dividend value of IDR33.2 tn, this means that each shareholder will receive a dividend of around IDR270 per share. This also increased from the previous year, which was only IDR205 per share. The agreed-upon final dividend amount also includes the interim dividend, which was distributed at the end of 2023. Where the amount of the interim dividend is IDR5.2 tn. This means that the remaining dividends that will be paid are IDR28.04 tn in dividend distribution. This value is equivalent to a dividend of around IDR227.5 per share. (Source : Kontan). Comment : We like BBCA’s ‘23 dividend payment. Its payout ratio is in line with our ‘23F DPO for BBCA. We expect the ‘24F dividend payout to reach around half of the 2024 net profit. Despite our lower assumptions, we expect earnings to grow better year on year, resulting in a dividend yield equal to the three-year historical average.