Almost 2x Deposit Interest Rate, Check BJTM Dividend Payment Schedule

BJTM Dividend Payment - JAKARTA. Important news for dividend hunting investors in the Indonesia Stock Exchange (IDX). PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM) also known as Bank Jatim will make a large dividend payment. Check the BJTM dividend payment schedule so you don't miss out.

The BJTM management will make a cash dividend payment of IDR 816.9 billion from the net profit of the 2023 fiscal year. The amount is equivalent to 55.55% of Bank Jatim's profit in 2023 which is IDR 1.47 trillion. As a result, BJTM shareholders will receive a dividend of IDR 54.39.

"Dividends will be paid to shareholders whose names are registered in the Shareholder Register (DPS) on February 22, 2024," explained Wioga Adhiarma, Corporate Secretary of Bank Jatim in the disclosure of information.

Meanwhile, the remaining profit that is not used for dividends or equivalent to IDR 653.41 billion will be used for general reserves. This includes reserves for bonuses and tantiems worth IDR 367.53 billion.

Research Analyst Reliance Securities Ayu Dian mentioned that the BJTM dividend distribution plan can be observed by investors because of its potential dividend yield that can reach 8%.

Until the end of trading on Friday (16/2), BJTM parked at IDR 685 per share. If using that closing price, then the estimated BJTM dividend yield could reach 7.93%.

With that value, the BJTM dividend payment is almost twice as much as the bank deposit interest. Currently, the deposit interest in banks guaranteed by the Deposit Insurance Corporation (LPS) is 4.25%.

Here is the schedule for the cash dividend distribution of BJTM for the 2023 fiscal year: