JAKARTA: PT Bank Mandiri Tbk agreed to pay IDR2.45 trillion dividends or 20% from the total profits in 2011. All state-owned banks will also pay dividend in the same amount.
Bank Mandiri President Director Zulkifli Zaini said the allocated dividend of 20% would strengthen the competitiveness of capital and provide wider space to distribute credit.
“We are targeting 20%-22% credit growth this year,” he said after attending the shareholder’s meeting on Monday, April 23, 2012.
However, the paid-in dividend to shareholders from Bank Mandiri is still below PT Bank Rakyat Indonesia Tbk that reached IDR3.02 trillion, although both have the same percentage of 20% from the total net profit in 2011.
Meanwhile, PT Bank Negara Indonesia Tbk shareholders agreed to pay IDR1.165 trillion dividends or 20% from the total profits of IDR5.8 trillion in 2011.
Last week, the shareholders of PT Bank Tabungan Negara Tbk decided to pay dividends by 20% or IDR223.73 billion for the 2011 net profit valuing IDR1.1 trillion.
In term of percentage, Bank Mandiri’s retained earnings were higher at 76%, followed by BRI 75%, BTN 70%, and BNI 56%. BNI has smaller retained earnings due to higher general reserve at 10%.
Although the company held rights issue last year, its capital adequacy ratio (CAR) rapidly declined to 15.13% from 18%, according to Bank Mandiri Finance and Strategic Planning Director Pahala N. Mansury.
It declined as the company’s credit expansion reached 27% last year. However, he is optimistic with dividend payment of 20% the company will be able to maintain the CAR over 12% until 2014. (T06/faa)
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