Mar 15, 2011

BJBR to propose Rp60.33 dividend

PT Bank Pembangunan Daerah Jabar dan Banten Tbk (BJBR) aims to propose Rp578.61 billion dividend, reflecting 65% of its net income last year at Rp890.17 billion. Referring to its outstanding shares, the bank intends to distribute Rp60.33 per share dividend.
BJBR President Director Agus Ruswendi said the dividend payout ratio will be determined in annual shareholders' meeting scheduled by end of this month.
"We will propose a minimum dividend as much as we paid last year. It is about 65% of our net income last year," he told Bisnis Indonesia.
Audited financial statement last year showed that the bank recorded Rp890.17 billion net income, a 22.71% increase from Rp709.1 billion in the previous year. Net interest income reached Rp2.56 trillion, while nonoperational income was Rp35.08 billion.

Disclosure: No position at the stock mentioned above.

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