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Jakarta Post

Mandiri to pay out $418m in dividends

  • The Jakarta Post

Jakarta   /   Fri, May 30 2008   /  04:28 pm

Bank Mandiri, the country's largest lender by assets, is setting aside 90 percent of its 2007 net profit -- totaling Rp 3.91 trillion (US$418 million) -- for dividend payments. The figure puts the per-share-value at Rp 186. The decision was made during an annual shareholders meeting Thursday, according to Mandiri president director Agus Martowardojo. "Actually, Mandiri's dividend payment was 50 percent (of 2007's profit) or Rp 2.17 trillion, but we added another 40 percent of special dividends in appreciation of our shareholders following a good performance last year," Agus said after the meeting. The large payment, he said, would not hamper the bank's cash flow and investment plans. "Mandiri is strong in capital, and will remain so for the next three years. The one-time special dividend payment would not affect Mandiri's investment pla...