Sido Muncul Make Sure Dividend Distribution Is Above 85 Percent

JAKARTA - PT Industri Jamu dan Pharmacy Sido Muncul Tbk (SIDO) conveyed the plan to distribute dividends this year.

INvestor Relations Manager of SIDO, Stephanie Setiawan said dividend distribution will be decided at the company's Annual General Meeting of Shareholders (AGMS). However, the company decided to postpone the implementation of the AGMS which was originally to be held on April 3, 2024.

"For the final dividend, it will be decided at the GMS, but for the payout side, our ratio will be above 85 percent," Stephanie said in a Talkshow broadcast on Mirae Asset Sekuritas' YouTube quoted on Saturday, March 16.

Previously, the company had distributed an interim dividend of IDR 12.6 per share for the 2023 financial year for the period January 1, 2023 to June 30, 2023. Dividend payments were carried out on November 20, 2023.

Regarding performance, in 2023, the company pocketed a profit of Rp950.64 billion, down from the achievement in 2022 which amounted to Rp1.10 trillion. The company's sales also decreased to Rp3.56 trillion, from the previous Rp3.86 trillion.

In detail, sales of herbal herbal medicine and supplements were recorded at IDR 2.34 trillion. Followed by sales of food and beverage products which were recorded at IDR 1.10 trillion, and pharmaceutical products recorded sales of IDR 115.68 billion.

Despite recording a decline in performance, also in the midst of quite challenging economic conditions, SIDO is still able to maintain market share, especially for its superior products, where Tolak Angin products control 72 percent of the market share until the end of 2023.

In addition, SIDO also continues to innovate by expanding its product portfolio, such as Alang Sari Cool (RTD product), Sido Muncul Vitamin C+D (RTD VCD product), Esemag (Herbal), Sari Kunyit Plus (Herbal), and Female Balance (Herbal).