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Massive expansion, UNVR dividend ratio dropped

Kamis, 01 Desember 2016 / 10:07 WIB

Massive expansion, UNVR dividend ratio dropped

JAKARTA. Interim dividend ratio of PT Unilever Indonesia Tbk (UNVR) has declined since 2014. UNVR will share interim dividend of Rp 375 per share for 2016 financial year. The dividend value reached Rp 2.8 trillion.

Actually, the value of interim dividend in 2016 has increases compared to the last year adn 2014 that amounted to Rp 342 per share and Rp 336 per share, respectively. But this year's dividend payout ratio was just 84% of its net profit in the first semester. Last year, the payout ratio reached 89%.

In 2014, UNVR shared interim dividend at Rp 336 with a 90% payout ratio. "The dividends’ sharing adjusts the funding needs," Director & Corporate Secretary of UNVR Sancoyo Antarikso told KONTAN, Wednesday (30/11).

UNVR’s necessity for cash flows to cover the funding needs continued to increase since 2014. Net cash flows used in investing activities throughout 2015 was Rp 1.43 trillion, up by 42% compared to the same period in the previous year that reached Rp 1.01 trillion.

Meanwhile, the net cash flows used in financing activities rose by 6% from Rp 4.85 trillion in 2014 to Rp 5.14 trillion in 2015.

Net cash flows allocated to investment as of the third quarter of 2016 amounted to Rp 1.23 trillion, up by 48% on year on year basis (YoY), while the net cash flows allocated to activities of funding has increased by 24% to Rp 2.95 trillion.

UNVR still refused to specify the exact number of the funding needs, mainly the capital expenditure for 2017. “We are still finalizing,” said Sancoyo.

Analyst at Semesta Indovest Aditya Perdana Putra said that the issuer’s decision to share the dividends before the end of the fiscal year reflects the issuer’s optimism on its business prospect. “Not only the value per share, but it will be better if the yield of the shared dividend is also greater,” said Aditya.

However, Aditya continued that the dividends’ sharing has to consider the issuer’s needs for funding. “It also related to the business. The issuer will need a larger funds if the business sector is still possible to expand,” he said.

Based on the closing price on Tuesday (29/11), the yield of UNVR dividend may reach 0.9%. Last year, the yield of UNVR interim dividend was also 0.9%. The dividend’s yield remains unchanged, since UNVR’s stock price continues to rise.

(Muhammad Farid/Translator)

Reporter: Dityasa H Forddanta
Editor: Adi Wikanto
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