Budgeting IDR 700.19 Billion, BTN Distributes Dividends Of IDR 49.89 Per Share

JAKARTA PT Bank Tabungan Negara (Persero) Tbk (BBTN) approved the distribution of dividends of 20 percent or IDR 700.19 billion from net profit for the 2023 financial year of IDR 3.5 trillion. The decision was taken at the Annual General Meeting of Shareholders (AGMS) which was held on March 6, 2024.

In addition, around 80 percent or IDR 2.8 trillion will be used as retained balances for the company's business development. The dividend distribution value is equivalent to IDR 49.89 per share which will be distributed in the form of dividends to shareholders, namely the Government of the Republic of Indonesia at 60 percent and the Public at 40 percent.

President Director of BTN Nixon LP Napitupulu said the dividend distribution value for the 2023 financial year increased by about 15 percent from the total dividend for the 2022 financial year of around Rp609 billion.

According to Nixon, the distribution of dividends for the 2023 financial year is the company's commitment to increase its contribution to the government, as well as the company's efforts to increase shareholders value to investors.

The provision of dividends of 20 percent will still be able to maintain the company's capital ratio in 2024 above regulatory requirements. We hope that with this dividend distribution, investors will be more loyal to BBTN shares," said Nixon, Wednesday, March 6, 2024.

Nixon explained that with the composition of government shares of 60 percent, the company will deposit dividends of IDR 420.1 billion to the State General Cash Account.

Meanwhile, dividends for the 2023 financial year are paid proportionally to each shareholder whose name is recorded in the Register of Shareholders on the date of recording.

Nixon said that the company's new board of directors will make BTN more optimistic in continuing the transformation that has been going on before. This is done in the context of achieving the company's vision to become The Best Mortgage Bank in Southeast Asia by 2025.

In 2024, Nixon said the company is targeting credit and financing growth, third-party funds, and net profit at around 8 percent to 12 percent yoy.

Meanwhile, the gross non-performing loan (NPL) ratio is targeted to be maintained in the range of 3.2 percent to 3 percent.

"We are optimistic that the addition of new directors and commissioners will make the company's performance even more brilliant in realizing BTN's vision to become The Best Mortgage Bank in Southeast Asia in 2025," he concluded.