JAKARTA (TheInsiderStories) - Shareholders of state owned Bank Negara Indonesia (BNI) on Thursday agreed to pay dividend of Rp3.96 trillion as dividend for 2016 fiscal year, or 35% of the bank’s net profit of Rp7.37 trillion. Of this amount, Rp2.38 trillion dividend or 60% is paid to the government and the remaining 40% is paid to public shareholders.
The remaining 65% of the net profit is allocated as retained earnings to strengthen the company’s capital structure. In previous year, the bank sets dividend payout ratio of 25% of 2015 net profit, valued at Rp2.69 trillion. Despite the dividend payout, the bank maintains healthy capital adequacy ratio (CAR) of 18.5% of the dividend payout compared to 19.5% before dividend is paid.
The shareholders also agreed to appoint Herry Sidharta as deputy president director, who was previously director of the bank, replacing Suprajarto, who has been appointed as president director of BRI. The composition of board of commissioners were changed, with Pradjoto (deputy president commissioner) and Anny Ratnawati (independent commissioner) leaving their posts. The two were replaced by Warwanto Harjowiryono (deputy president commissioner) and Ahmad Fikri Assegaf as independent commissioner. (*)