Bank Dividend Distribution Race: Who's the Biggest Winner?

Several large banks have announced dividend payouts to shareholders this year. The amounts, taken from net profit or dividend payout ratios, vary. Who are they and how much did they distribute?

* BRI

BRI (BBRI) agreed to distribute Rp43.94 trillion in dividends to shareholders, equivalent to 85% of its 2022 consolidated net profit attributable to the parent entity's owners. This decision was made at the 2023 Annual General Meeting of Shareholders (RUPST) held in Jakarta on Monday, March 13, 2023.

This includes an interim dividend of Rp8.60 trillion already distributed to shareholders on January 27, 2023. This means the remaining cash dividend to be paid is Rp34.89 trillion.

From this cumulative dividend, shareholders will receive Rp288 per share. This dividend is the same as last year's, 85% of a net profit of Rp26.4 trillion, equivalent to Rp174.23 per share.

BRI's net profit in 2022 reached Rp51.4 trillion, a 67.15% year-on-year (yoy) increase.

This dividend from the state-owned bank is the largest among jumbo-capitalized banks on the Indonesia Stock Exchange (BEI).

* BCA

This private bank, with the stock code BBCA, distributed a cash dividend of Rp25.3 trillion, or 62.1% of the company's net profit of Rp40.7 trillion in 2022. Shareholders will receive Rp205 per share.

Previously, BCA had already distributed an interim cash dividend of Rp35 per share on December 20, 2022. The company will pay the remaining Rp170 per share.

This dividend increased by 41.4% from the amount distributed in the 2021 fiscal year. At that time, the dividend was Rp17.9 trillion, taken from 56.9% of the net profit of Rp31.42 trillion.

* Bank Mandiri

This state-owned bank, with the stock code BMRI, distributed a cash dividend of Rp24.7 trillion, or 60% of its net profit of Rp41.17 trillion in the 2022 fiscal year.

This resulted in a dividend of Rp529.34 per share. Bank Mandiri's President Director, Darmawan Junaidi, explained that the dividend per share increased by 46.8% compared to the previous year's Rp360.64 per share.

This dividend per share is also the highest since Mandiri's initial public offering (IPO).

* BNI

This state-owned bank disbursed a dividend of Rp7.32 trillion, or 40% of its net profit of Rp18.31 trillion in 2022.

This amounts to a dividend of Rp392.78 per share. This is a 2.69-fold increase from the 2021 dividend of Rp146 per share.

The 2021 dividend for this bank (stock code BBNI) was Rp2.72 trillion, or 25% of its net profit of Rp10.9 trillion.

* BTN

This state-owned bank distributed a dividend of Rp609 billion in the 2022 fiscal year, as reported by Katadata. This is 20% of BTN's 2022 net profit of Rp3.04 trillion. Each shareholder received Rp43.39 per share.

Although this is the smallest amount compared to the bank issuers discussed above, BTN's dividend increased from the previous amount, which was 10% of the net profit of Rp2.37 trillion in 2021.

(See also: Who are the most generous global dividend-paying issuers?)