Heaptalk, Jakarta — Telkom Indonesia will distribute cash dividends of Rp17.68 trillion, or around US$1.1 billion (US$1 equals Rp16,029) to its shareholders. This amount is approximately 72% of the net profit of Rp24.6 trillion for the 2023 financial year, an increase of 6.5% from the previous year. This decision was taken at the general meeting of shareholders for the 2023 financial year in Jakarta (05/03).
In more detail, each shareholder will receive a dividend of Rp178.50 per share. Those entitled to receive dividends are those registered in the company’s shareholder register at the close of trading on the Indonesia Stock Exchange as of May 17, 2024. Further, cash dividends will be paid no later than June 6, 2024.
Meanwhile, the remaining 28% profit, or Rp6.88 trillion, will be strategically allocated as retained earnings to finance the company’s business development in digital connectivity, platforms, and services. This forward-thinking approach is part of the company’s ongoing transformation through the Five Bold Moves (5BM) initiative, including Fixed Mobile Convergence (FMC), InfraCo, Data Center Co, B2B Digital IT Service Co, and DigiCo.
Focusing on the Five Bold Moves program
According to Telkom President Director Ririek Adriansyah, 2023 was a crucial milestone for its transformation. To strengthen the company’s business fundamentals and encourage healthy and sustainable business growth, his party is making several efforts to ensure that the company’s transformation agenda can be implemented well and on time.
“2023 was a challenging year for Telkom amid ongoing transformation. Thank God that Telkom recorded quite a good performance, which, of course, cannot be separated from the support of employees and all stakeholders involved. On behalf of management, we would like to thank the stakeholders for their support and trust in Telkom to continue to provide the best contribution and grow sustainably,” said Ririek in a written statement (05/03).
Throughout 2023, Telkom focused on executing the Five Bold Moves program based on the three pillars of its business domain. The digital connectivity pillar is embodied through the FMC program and the formation of InfraCo. The digital platform business pillar is realized by consolidating Data Centers and B2B Digital IT Services. Meanwhile, the digital services business pillar is carried out through the DigiCo initiative.
Telkom posted consolidated revenue 2023 of Rp149.2 trillion, which grew by 1.3% compared to last year. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) were recorded at Rp77.6 trillion with an EBITDA margin of 52.0%. Meanwhile, the company’s net profit grew double digits by 18.3% YoY to Rp24.6 trillion at the end of 2023. This positive achievement was contributed by the growth of the Data, Internet & IT Service business, which grew 6.5% YoY to Rp87.4 trillion.
