Good News, Buana Finance Distributes IDR 6.58 Billion Dividend
JAKARTA - Based on the results of the GMS of PT Buana Finance Tbk held on Friday 18 June 2021, the company will distribute dividends of IDR 6.58 billion or equivalent to IDR 4 per share. This amount is 32 percent of the company's total net profit in 2020.
The COVID-19 pandemic resulted in a decrease in the company's operating income so that net profit contracted by 66.17 percent from IDR 59 billion to IDR 20 billion.
"In the midst of the national economic slowdown due to the COVID-19 pandemic, the company distributed new financing volumes in 2020 amounting to IDR 1.18 trillion, 58 percent lower than in 2019. The new financing volume consisted of finance leases of IDR 455 billion and consumer financing of IDR 728 billion", said Finance Director of Buana Finance Mariana Setyadi, in a virtual public expose, Friday, June 18 yesterday.
The distribution of financing receivables also contracted by 25.5 percent to IDR 3.50 trillion. In terms of asset quality, the ratio of non-performing financing (NPF) as of December 31, 2020, was recorded at 0.96 percent, or slightly increased compared to 2019 of 0.58 percent.
As of March 2021, the company's new financing value was recorded at IDR 415 billion, a decrease of 18 percent compared to the same period the previous year. Almost all financial indicators show a decline as a result of the impact of the COVID-19 pandemic that has occurred since the end of the first quarter of 2020 until now.
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In 2021, the company targets a financing distribution of IDR 1.8 trillion, an increase of 52.21 percent compared to the achievement in 2020, which consists of IDR 1.3 trillion in Consumer Financing and IDR 500 billion in Financing Leases with a profit target of IDR 37.50 billion, an increase of around 86.98 percent.
In terms of capital, the company has a capital (equity) of IDR 1.2 trillion with total liabilities of IDR 2.8 trillion. With a gearing ratio (debt to equity ratio) of 2.32 times, the company has a strong level of capital to expand its business. Currently, the company has 34 branch offices and Offices Other than Branch Offices (KSKC) spread throughout Indonesia.
In addition to the distribution of dividends, the Buana Finance GMS also decided to re-appoint the current composition of the Company's Board of Commissioners for the term of 2021-2026, as well as changes to the Articles of Association, including adjustments to the issuance of POJK Number 15/POJK.04/2020 and Number 16/ POJK.04/2020.