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Indonesian State Firms Expected to Pay Out 35 Trillion Rupiahs in Dividends

State-owned enterprises are expected to pay out 35 trillion rupiahs ($2.45 billion) in dividends this year or up 34.6 percent from 26 trillion rupiahs ($1.82 billion) last year.

“Insya Allah [God willing] there will be an increase in a dividend payment of 35 trillion rupiahs this year,” State-Owned Enterprises Minister Erick Thohir said in a virtual event on Tuesday, June 15.

Erick said that last year’s target of dividend payment to the government was at 40 trillion rupiahs. The target, however, did not achieve due to the Covid-19 pandemic, he said.

He said the ministry will work hard to achieve the targeted dividend payments. To do so, he said that the internal state firms must improve, starting from their human resources to their business processes.

"We want how to improve the state-run firms based on good human capital, good business so that our target is to pay out as many dividends as possible to the state," he said.

In terms of human resources development, the ministry has implemented a capacity building program to strengthen business knowledge and risk management. From the business side, state firms are urged to restructure their business models through business model innovation.

Source: https://go.kompas.com/read/2021/06/16/221403974/indonesian-state-firms-expected-to-pay-out-35-trillion-rupiahs-in-dividends.