KONTAN.CO.ID - JAKARTA. PT AKR Corporindo Tbk (AKRA) has announced plans to distribute dividends to its shareholders once again. This time, AKRA will distribute cash dividends amounting to Rp 50 per share, which will be paid out next month.

In total, AKRA will pay dividends of Rp 125 per share from the net profit of the 2023 fiscal year. This amount includes two interim dividends that have already been paid: Rp 50 per share on August 16, 2023, and Rp 25 per share on November 15, 2023.

The remaining dividend of Rp 50 per share will be paid on May 27, 2024. The dividend amount is in accordance with the decision made at AKRA's Annual General Meeting of Shareholders (AGM) held on Monday, April 29.

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Here is the schedule for AKRA's cash dividend distribution:

• Cum dividend in the regular and negotiation markets: May 8, 2024
• Ex dividend in the regular and negotiation markets: May 13, 2024
• Cum dividend in the cash market: May 14, 2024
• Ex dividend in the cash market: May 15, 2024
• Dividend recording date: May 14, 2024
• Cash dividend payment: May 27, 2024.

The total dividend of Rp 125 per share is equivalent to Rp 2.46 trillion or 88.7% of the net profit in 2023, which reached Rp 2.78 trillion. This amount is equivalent to a total dividend yield of 7.8%.

The dividend distributed by AKRA this year is higher than last year. To recall, in 2023, AKRA paid a dividend of Rp 75 per share or a total of Rp 1.48 trillion.

This amount reflects a dividend payout ratio of about 62% from the net profit in 2022, which was Rp 2.4 trillion. Last year's AKRA dividend was equivalent to a dividend yield of 6%, consisting of an interim dividend of Rp 25 per share and a final dividend of Rp 50 per share.

MESOP Program

In total, AKR Coporindo's AGM discussed five agendas. In addition to the dividend distribution, AKRA's management also sought approval for the plan to transfer some of the shares from the buyback (treasury shares) through the establishment and implementation of a management and employee stock ownership program, or Management and Employee Stock Option Program (MESOP).

The MESOP will be implemented with as many as 156.5 million shares or 0.78% of the fully paid and placed capital. The treasury shares of AKRA are the result of a buyback carried out from March 16, 2020, to June 12, 2020, totaling 336,305,000 shares, which must be transferred no later than June 2026.

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The MESOP program was chosen as one of the ways to transfer treasury shares, considering the annual increase in AKRA's performance and profitability. The MESOP program will be implemented gradually starting in August 2024, and the remaining treasury shares will be resold to the capital market.

From the perspective of stock movement, until the first trading session on Monday, April 29, AKRA strengthened by 1.88% to the level of Rp 1,630 per share. Year to date, the price movement of AKRA shares has accumulated a strengthening of 10.51%.

Editor: Khomarul Hidayat