Jakarta, Friday (4/14/2023) – PT Dayamitra Telekomunikasi Tbk (MTEL), also known as “Mitratel”, has approved the distribution of dividends, consists of cash dividend equivalent to 70% of net profit, totaling IDR 1,249,547,501,295 or IDR 15.1178 per share and special dividend of 29% of net profit or IDR 517,669,679,108 or IDR 6.2631 per share. This was determined by Mitratel Management at the Annual General Meeting of Shareholders (AGMS) at the Four Seasons Hotel, Jakarta on Friday, April 14, 2023.
Cash dividends and special dividends will be paid all at once, no later than May 17, 2023, to all shareholders registered on the Mitratel shareholder list as of May 4 2023. Dividend payments will be made considering tax provisions, the Indonesian Stock Exchange (BEI) and others applicable capital market provisions.
Mitratel’s President Director, Theodorus Ardi Hartoko, who is familiarly called Teddy, said that dividend distribution is Mitratel’s commitment to providing the best value to shareholders.
“Mitratel has set a total dividend payout ratio of 99% considering Mitratel’s optimal capital structure and liquidity to continue organic and inorganic business growth in the coming period. “In 2023, Mitratel will continue to expand its market and strengthen Mitratel’s market share in telecommunications tower industry,” added Teddy in Jakarta to journalists, Friday (14/4/2023).
Mitratel’s business plan emphasizes Mitratel as an independent telecommunications infrastructure company that is growing rapidly become the largest tower ownership in Southeast Asia which is equipped with supporting services in tower ecosystem, such as Tower Fiberization, Power-as-a-service, and infrastructure-as-a-service to support enhancement of services from mobile operators. Mitratel has allocated capital expenditure (capex) worth IDR 7 trillion to support organic and inorganic development this year.
Apart from distributing dividends, Mitratel also obtained approval for the repurchase of company shares (buyback) that have been issued and registered in IDX, IDR 1,500,000,000,000 excluding Stock Exchange Member commission fees and other expenses, that will not exceed 7.88% of the total issued and paid-up capital in the Company. This buyback will be carried out in accordance with applicable regulations.
“Some of the reasons why Mitratel decided to buy back shares were to evaluate the flexibility enabling Mitratel to have a mechanism to maintain the stability of Mitratel’s share price, to promote share price that reflect the company’s true value or performance, and efforts to optimize the company’s excess cash to increase returns to company shareholders,” said Teddy.
This share buyback initiative is to anticipate no adverse material impacts on the company’s business activities because this initiative takes into consideration the company’s business operations, financial health, working capital requirements, and sufficient funding sources to carry out the corporate action.
The share buyback is expected to boost the investors’ confidence in the shares value according to the company’s fundamentals. Additionally, buying back company shares also offers the company flexibility in managing long-term capital, where treasury shares–resulting from the buyback–can be sold in the future at an optimal value if the company needs additional capital.
In addition to these two important agenda items, Mitratel at this AGMS also approved the Annual Report and Ratified the Financial Report for the 2022 Fiscal Year, appointing a public accounting firm to examine the company’s financial statements for the 2023 financial year, including an audit of internal control over financial reporting, Report on the Use of Proceeds from Public Offerings. Initial Shares of the Company and approval for changes to the composition of the company’s management, so that the composition of the Mitratel Board of Commissioners and Directors is as follows:
Board of Commissioners
President Commissioner and Independent Commissioner: Rico Usthavia Frans
Independent Commissioner: M Ridwan Rizqi R Nasution
Commissioner: Herlan Wijanarko
Commissioner: Henry Yosodiningrat
Commissioner: Yusuf Wibisono
Directors
President Director: Theodorus Ardi Hartoko
Director of Finance & Risk Management: Ian Sigit Kurniawan
Director of Operations & Development: Hastining Bagyo Astuti
Business Director: Agus Winarno Investment Director: Hendra Purnama
