PT Sarana Menara Nusantara Tbk (SMN/TOWR.JK) fixes plan for a full year 2017 dividend of IDR 1.2 trillion.
Jakarta, March 20, 2018 | Source: Company

SMN, the leading telecom infrastructure provider in Indonesia and the parent company of PT Profesional Telekomunikasi Indonesia (Protelindo), announced plans today for a full year 2017 dividend payment of IDR 1.2 trillion. The proposed total dividend will be subject to approval at the annual general meeting of shareholders to be held no later than May 2018.

"Despite this increase in dividend to IDR 1.2 trillion this year compared to last year’s IDR 700 billion, we still have substantial room on the balance sheet to fund strong organic and inorganic growth. The strong increase in the total proposed dividend is in line with the Company's 'Build, Buy Return' strategy for the benefit of all our stakeholders,” stated Bapak Aming Santoso, the President Director of SMN. "Based on today’s price of the stock, dividend yield is approximately 3.4%," he added.

SMN paid its first dividend totaling IDR 700 billion for fiscal year 2016. The planned 2017 total dividend of IDR 1.2 trillion will be significantly higher than the 2016 total dividend and includes the interim 2017 dividend of IDR 306 billion paid in December 2017.

SMN has been listed on the Indonesian Stock Exchange since 2010 and has a market capitalization of approximately IDR 34.8 trillion. More than 50 percent of SMN's shares are owned by vehicles belong to the Indonesia based Hartono Family, the shareholders of the Djarum Group of Companies.