Bank Jatim Commits Sumpang PAD Through Dividend Distribution

JAKARTA - PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) is committed to contributing to the Regional Original Revenue (PAD) of East Java through the distribution of dividends which has continued to increase over the past five years.

"Bank Jatim is one of the Regional-Owned Enterprises (BUMD) of the East Java Provincial Government which continues to consistently contribute the largest PAD through the dividends distributed," said President Director of Bank Jatim Busrul Iman in Surabaya, East Java, quoted from Antara, Monday, July 29.

Busrul said that in the last five years the dividend distribution to shareholders has continued to increase with a record high of IDR 54.39 per share or with a payment ratio of 55.55 percent of the net profit for the 2023 financial year.

He said the distribution of dividends that always increase every year is able to make Bank Jatim's shares one of the people's favorite stocks in investing.

The dividend distribution is in line with Bank Jatim's fairly good performance in 2023, which can be seen from the total assets throughout 2023 which reached Rp103.85 trillion, an increase of 0.8 percent from the previous year.

Even the various targets that have been set are able to be realized in 2023, such as credit expansion given by Bank Jatim and then at IDR 54.76 trillion, an increase of 18.54 percent (year-on-year / yoy).

"This figure grows above the average national credit growth of only 10.3 percent," said Busrul.

The achievement of Bank Jatim brought him to a prestigious award as one of the issuers of the High Dividend category in the 2024 Issuer Appreciation organized by the Tempo-IDNFinancials 52 Index.

The award was obtained because Bank Jatim is considered to be consistent in distributing dividends every year.

After reviewing based on financial reports as of December 2023, there were 84 issuers included in the Index 52 constituent consisting of four categories, namely Main Index, High Growth, High Dividend, and Big Market Capitalization.

Representatives of the 52 Luther Sembiring Index Committee said that 84 constituents received awards because the public company managed to display good performance in several categories in the 52nd Index.

In the Main Index category, the number of market caps reached 8.25 quadrillion, the High Growth category of market capitalization was 7.17 quadrillion, the High Dividend category reached 6 quadrillion, and the Big Market Cap was 8.43 quadrillion.