Royal! These Are the 10 'Noble' Issuers with the Highest Yields
Shares with high dividend yields remain one of the choices for investors seeking passive income from the capital market.
Besides the potential for share price appreciation, dividends can provide regular cash flow as long as the company maintains its profit distribution policy.
Based on share trading data, there are 10 issuers with market capitalisations above Rp10 trillion that recorded yields of around 10% or more. The yield figures in this list have been rounded to one decimal place for easier reading.
The yield calculation uses the current share price compared with the accumulated dividend per share on an annual basis or over the last 12 months. The simple formula is total annual dividend per share divided by the current share price, then multiplied by 100%.
For example, issuer BMRI has a dividend per share of Rp476.96 over the last 12 months. That value is divided by the current share price at the time of writing of Rp4,180 per share.
Thus, 476.96 (DPS) divided by 4,180 (share price) multiplied by 100% gives a yield on holding BMRI shares equivalent to 11.41%.
This means yield is influenced not only by the size of the dividend distributed by the company, but also by share price movements in the market. When the share price falls while the dividend remains the same, the yield will increase. Conversely, a rise in the share price can make the yield appear lower even though the nominal dividend has not changed.
PT Baramulti Suksessarana Tbk (BSSR) occupies the top position with a yield of 18.6%. The next position is held by PT J Resources Asia Pasifik Tbk (PSAB) with a yield of 16.3%.
Two banks with large market capitalisations are also on the list, namely PT Bank Mandiri (Persero) Tbk (BMRI) with a yield of 11.4% and PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) at 11.0%.
The list comes from various sectors. Besides banking, there are coal issuers, gold mining, bauxite, oil palm plantations, consumer goods, and the healthcare industry. This diversity can give investors more options to match dividend shares with their risk profile.
From the consumer goods sector, PT Unilever Indonesia Tbk (UNVR) offers a yield of 11.3%. Meanwhile, PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) recorded a yield of 10.7%. The commodities sector is represented by CITA, TAPG, ADRO, and AADI.
However, a high yield does not automatically indicate that the share is cheap or worth buying. The figures in this list are historical and do not guarantee that the company will distribute dividends of a similar nominal amount in the next period.
Investors still need to pay attention to profit growth, the ability to generate cash flow, debt levels, payout ratio, and consistency of dividend distribution. A high yield can also arise from a decline in the share price or a special dividend distribution that may not be repeated.
Therefore, dividend yield should be used as one of the initial indicators in the share screening process, not as the sole basis for making investment decisions.