May 23, 2011

Bank Mandiri to pay Rp138.27 dividend

One of Indonesia's largest commercial lender PT Bank Mandiri Tbk (BMRI) has been agreed to distribute a Rp138.27 per share dividend with Rp19.64 per share interim dividend was distributed in December last year.
The total dividend is representing a 35% payout ratio of Bank Mandiri's net profit last year of Rp9.22 trillion. 
Bank Mandiri CEO Zulkifli Zaini said annual meeting of shareholders has named Royke Tumilaar as Director of Treasury, Financial Institution, and Special Asset, replacing his predecessor Thomas Arifin. The annual meeting has reassigned Sentot A. Sentausa and Budi Sadikin.
Zulkifli said the bank is looking for opportunity to acquire companies in the retail and consumber sector up to 2014. "We are eyeing medium size bank with assets of Rp10 trillion-Rp20 trillion," he said.
The bank is also considering to establish subsidiary in Malaysia next year.

Disclosure: No position at the stock mentioned above.  

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