"Dividend Hunting" for BBRI Ahead of Cum Date: What Are the Prospects?

JAKARTA, KOMPAS.com - Is the phenomenon of retail investors buying shares ahead of the cum date, particularly in large-cap banking stocks like PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), still rational or merely market euphoria? Moreover, the allure of high dividends is driving many investors to hunt for shares before the dividend entitlement deadline. Although this strategy raises questions about whether it remains rational or is just market hype, it essentially means that if retail investors wish to receive dividends from a stock, such as BBRI, they must buy or already hold the shares by the cum date at the latest. Mechanically, on the cum date, the dividend rights are still attached to the shares. After that date, or on the ex-date, new buyers no longer receive the dividend rights. This practice is known as dividend hunting. The tactic appears profitable as investors can obtain dividends in a relatively short time. BBRI itself has set a cash dividend for the 2025 fiscal year at Rp 52.10 trillion, or Rp 346 per share. The decision on BRI’s dividend distribution came from the Annual General Meeting of Shareholders (AGMS) held on 10 April 2026. The interim dividend was first paid on 15 January 2026, amounting to Rp 20.63 trillion or Rp 137 per share. Meanwhile, the final dividend reaches Rp 31.47 trillion or Rp 209 per share, which will be disbursed to investors on 8 May 2026. Senior Investment Information Officer at Mirae Asset Sekuritas, Nafan Aji Gusta, assesses that the dividend hunting pattern is more driven by short-term sentiment than measured investment strategy.