Indosat (ISAT) Distributes Dividends of IDR 2.16 Trillion from 2023 Profits

DIVIDEND DISTRIBUTION - JAKARTA. PT Indosat Tbk (ISAT) is set to distribute dividends amounting to IDR 2.16 trillion from the 2023 fiscal year. This decision was approved by shareholders at the Annual General Meeting of Shareholders (AGM) for the 2023 fiscal year on May 21, 2024.

The cash dividend distribution from the net profit of the 2023 fiscal year equates to IDR 268.4 per share for shareholders.

For your information, ISAT recorded a revenue of IDR 51.22 trillion in 2023, a 9.67% increase compared to IDR 46.7 trillion in 2022. However, ISAT's net profit decreased by 4.59% to IDR 4.5 trillion throughout 2023, down from IDR 4.72 trillion in 2022.

The dividend distribution for the 2023 fiscal year is equivalent to approximately 48% of the Company's net profit for the fiscal year ending December 31, 2023. Dividends will be paid no later than 30 days after the announcement of the AGM summary minutes.

"The remaining net profit of IDR 2.34 trillion for the 2023 fiscal year will be allocated by the Company to retained earnings," said ISAT's SVP Head of Corporate Communication, Steve Saerang, at the ISAT AGM press conference on Tuesday (21/5).

Indosat Ooredoo Hutchison's President Director and Chief Executive Officer, Vikram Sinha, stated that the achievements in 2023 were due to the support of all parties, especially in continuing to create value in the transformative journey towards AI Native TechCo.

"With a focus on technology innovation and AI development, we are ready to provide added value to shareholders and deliver the best digital experience for customers," he said on the same occasion.

Vikram stated that Indosat continues to commit to the expansion of the 4G BTS network and the enhancement of product and service distribution coverage through Mini IM3 Outlets and 3Kiosks to various remote rural areas, including in eastern Indonesia.

To support the transformation into an AI Native TechCo, Indosat will continue to invest in technology-based human resource development, improve service quality, and expand connectivity.

"This is supported by Indosat's strategic partnership, through its subsidiary, with NVIDIA as the first Cloud Partner Provider in Indonesia and initiatives to empower women and SMEs," he explained.

In addition to the dividend distribution, the Meeting as a whole decided on five other agendas.

First, approval of the annual report, and ratification of the Company's financial statements for the fiscal year ending December 31, 2023.
Second, approval of the use of the Company's net profit for the fiscal year ending December 31, 2023.
Third, approval of the implementation of the Company's Board of Commissioners' remuneration for 2024.
Fourth, approval of the appointment of the Company's Public Accountant for the fiscal year ending December 31, 2024.
Fifth, approval of changes to the composition of the Company's Board of Directors and/or Board of Commissioners.

Vikram stated that the transformation carried out by ISAT is not only a step for the Company, but also a contribution to advancing the nation.