Apr 14, 2011

XL Axiata to distribute Rp107 dividend

Indonesia's third largest cellular operator PT XL Axiata Tbk (EXCL), a subsidiary controlled by Malaysian cellular player Axiata Berhad, today announced Rp107 per share of dividend distribution or Rp911.49 billion.
The 31.51% payout ratio dividend has been approved by annual of shareholders general meeting held today. The operator enables to distribute dividend after it recorded a 69% jump in net income last year.
XL Axiata starting this year has adopted a new policy on dividend ratio which will be minimally set at 30% of the total net income in order to raise the dividend value.
The company said that the new policy of minimum 30% dividend will be effective in this year. “The management targets to gradually raise dividend ratio within the future,” said the management of XL Axiata.
It is contrast with the previous dividend policy, issued in September 2005, when XL distributed 15%-20% dividend of the total net income.
In 2010, the operator booked net income of Rp2.89 trillion or Rp339.72 per share or grew 69% compared with Rp1.71 trillion in the previous year. With the 30% minimum ratio dividend, then XL may be able to distribute dividend of Rp101.92 per share in this year.
Meanwhile, XL’s net income during last year significantly jumped 110% or Rp5.16 trillion compared with the realization in 2009 which was only Rp2.46 trillion. Gross operating revenue after cut by discount was up 27% to Rp17.46 trillion compared with Rp13.71 trillion.
XL Axiata sets its capital expenditure (capex) at Rp5 trillion, which the third of them will be allocated for data service and 3G service. The capex is generated from internal cash. 

Disclosure: No position at the stock mentioned above.
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