Jakarta. The shareholders of Indonesia’s largest listed hospital operator Siloam International Hospitals (SILO) have agreed to allocate Rp 255 billion ($17 million) for dividend payment, the company announced on Thursday.

Siloam booked a net profit of Rp 696.4 billion ($46.6 million) last year with a 36 percent cap on the dividend payment or Rp 19.67 per share.

The planned dividend payout is slightly higher than the Rp 250 billion the company paid last year.

The shareholders’ meeting also agreed on the appointment of Benny Haryanto Djie as the new chief executive officer replacing Darjoto Setyawan whose term expires this year.

"With a high degree of professionalism and priorities toward Siloam programs in the future, the shareholders’ meeting appointed Benny Haryanto Djie as the company’s chief executive officer,” the statement reads.

Benny has spent the last three decades at a senior managerial level in the financial industry. He was instrumental in building digital infrastructure in the Indonesian stock market.

When he was a director of the Indonesia Central Securities Depository (KSEI), Benny introduced the book-entry settlement system in the Indonesia Stock Exchange.

"The transformation becomes the foundation for more effective and efficient trade at the Indonesia Stock Exchange," the Siloam statement said.

Benny is also the former CEO of Ciptadana Capital, in which he diversified services that allowed the financial service company to boost growth.

The Siloam shareholders’ meeting agreed to the buyback program to implement the employee stock option awarded under the key performance index and preset share price performance to eligible employees.

"Board members and senior employees will be awarded the shares on the KPI and preset share price basis," it said.

Siloam will allocate Rp 50 billion for the share buyback program excluding other costs.

Siloam Hospitals currently manages and operates 41 hospitals, consisting of 15 hospitals in the Greater Jakarta area and 26 hospitals spread across the islands of Java, Sumatra, Kalimantan, Sulawesi, Bali, Nusa Tenggara, and Ambon. Siloam Hospitals Group also operates 66 Siloam Clinics.

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