Mandiri Sekuritas Wijaya Karya: To give out dividend Rp10/share, reflecting dividend yield of 2.3% (WIKA, Rp425, Buy, Rp540)

The company will give out cash dividend of around Rp56.8bn, or equal to Rp10/share. It reflects a dividend yield of 2.3%. The payout ratio of around 30% is inline with our expectation. Aside from that, the shareholders approved WIKA’s plan to sell some of its fixed asset this year. The company is currently trading at PER10F of 9.2x.