BBRI - Results of AGM : dividend of IDR346 per share

BBRI - Results of AGM : dividend of IDR346 per share Shareholders of Bank Rakyat Indonesia (BBRI) agreed on seven agendas for the annual general meeting of shareholders (AGMS) regarding the FY25 performance, from dividend distribution to the determination of state shares. In the annual general meeting of shareholders (AGMS), shareholders approved the distribution of cash dividends amounting to IDR52.1 tn or IDR346 per share. This amount includes an interim dividend of IDR137 per share or IDR20.6 tn that was paid on Jan ‘26. BRI President Director Hery Gunardi stated that the decision to distribute the final dividend is a manifestation of the company's commitment to providing optimal returns for shareholders, supported by positive financial performance and maintained risk management. The distribution of this dividend is based on the company's consistently positive performance, supported by the strengthening of the MSME segment as BRI's core business, and the acceleration of digital transformation that continues to expand service reach and improve operational efficiency," said Hery in a written statement. According to Hery, the dividend decision reflects BRI's strong and sustainable business fundamentals, while also demonstrating the company's contribution to supporting national development thru financing micro, small, and medium enterprises (MSMEs). (Source : Bisnis Indonesia) Comment : A 92% payout ratio is significant. It signals that BRI has an incredibly strong capital position and does not feel the need to retain earnings for aggressive internal expansion. Instead, it is returning almost all its profit to shareholders, primarily the Indonesian government (as the majority shareholder) and public investors. For investors, BBRI continues to solidify its reputation as a "yield play, in our view. At current market prices, a dividend of IDR346 per share likely represents an eye-catching dividend yield and considerably an attractive entry point for a blue-chip banking stock. Maintain BUY, GGM-TP of IDR4,470 (2.0x ‘26F P/B).