BRIS - Will distribute dividends worth IDR855.56 bn

BRIS - Will distribute dividends worth IDR855.56 bn Bank Syariah Indonesia (BRIS) decided to distribute dividends worth IDR855.56 bn for the 2023 financial year. This was decided at the Annual General Meeting of Shareholders (AGMS) on May 17, 2024. Meanwhile, the amount of dividends distributed is equivalent to 15% of the total 2023 profit of IDR5.7 tn. In detail, each shareholder will receive dividends worth IDR 18.54 per share. (Source: Kontan) Comment : We like BRIS dividend which recorded higher year-on-year. With the potential continuing solid earnings growth, room for another higher dividend remain open. Maintain BUY GGM TP of IDR2,970/share, pegged at 3.2x ‘24F PB.