SIDO – Distributed dividends amidst lower performance

SIDO – Distributed dividends amidst lower performance Industri Jamu dan Farmasi Sido Muncul (SIDO) distributed its final dividend for 2023 financial year, with a total value of IDR378 bn or IDR12.6 per share, which equal to 90% dividend payout ratio (DPR), on November 20, 2023. Historically, within a year, SIDO distributed the dividends at least 2 times, on April and November. However, SIDO' 9M23 revenue and net profit declined by 9.66% yoy and 18.58% yoy, respectively. The contribution to SIDO' 9M23 revenue was from; a) herbal medicine and supplements segment at IDR1.45 tn (-12.13% yoy), b) food segment at IDR820.39 bn (-2.64% yoy) and c) pharmaceutical segment at IDR85.41 bn (-25.55% yoy). SIDO' lower performance was due to shifted priority by consumers post pandemic amidst high inflation environment. Thus, SIDO has anticipated around 10-15% yoy decline in its 2023' revenue and net profit. (Source: Bisnis Indonesia)