Take Note! These 10 Issuers Offer the Highest Dividend Yields
Stocks with high dividend yields remain a preferred choice for investors seeking passive income from the capital market. In addition to potential share price appreciation, dividends can provide a regular cash flow, provided companies maintain their profit distribution policies.
Based on stock trading data, there are 10 issuers with a market capitalisation of over Rp10 trillion that have recorded yields of approximately 10% or more. The yield figures in this list have been rounded to one decimal place for readability. The details are as follows:
PT Baramulti Suksessarana Tbk (BSSR), yield 18.6%, market cap Rp11.77 trillion
PT J Resources Asia Pasifik Tbk (PSAB), yield 16.3%, market cap Rp17.07 trillion
PT Bank Mandiri (Persero) Tbk (BMRI), yield 11.4%, market cap Rp389.20 trillion
PT Unilever Indonesia Tbk (UNVR), yield 11.3%, market cap Rp67.72 trillion
PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), yield 11.0%, market cap Rp477.41 trillion
PT Cita Mineral Investindo Tbk (CITA), yield 10.8%, market cap Rp12.83 trillion
PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO), yield 10.7%, market cap Rp10.38 trillion
PT Triputra Agro Persada Tbk (TAPG), yield 10.2%, market cap Rp39.01 trillion
PT Alamtri Resources Indonesia Tbk (ADRO), yield 10.0%, market cap Rp75.17 trillion
PT Adaro Andalan Indonesia Tbk (AADI), yield 10.0%, market cap Rp78.26 trillion
Yield calculations use the current share price compared to the accumulated dividend per share annually or over the last 12 months. The simple formula is the total annual dividend per share divided by the current share price, multiplied by 100%.
For example, BMRI recorded a dividend per share of Rp476.96 over the last 12 months. This value is divided by the current share price, which was at the level of Rp4,180 per share at the time of writing. Thus, 476.96 (DPS) divided by 4,180 (Share Price) multiplied by 100% results in a dividend yield for BMRI of 11.41%.
This means that yield is influenced not only by the amount of dividend distributed by the company but also by share price movements in the market. When the share price falls while the dividend remains constant, the yield increases. Conversely, an increase in the share price can make the yield appear lower even if the nominal dividend remains unchanged.
PT Baramulti Suksessarana Tbk (BSSR) holds the top position with a yield of 18.6%. Following this is PT J Resources Asia Pasifik Tbk (PSAB) with a yield of 16.3%.
Two large-cap banks are also included in 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%.
Beyond banking, the list includes issuers from the coal, gold mining, bauxite, palm oil plantation, consumer goods, and healthcare industries. This diversity provides investors with more options to align dividend stocks with their risk profiles.
From the consumer goods sector, PT Unilever Indonesia Tbk (UNVR) offers a yield of 11.3%, while PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) recorded 10.7%. The commodities sector is represented by CITA, TAPG, ADRO, and AADI.
However, a high yield does not automatically indicate that a stock is cheap or worth buying. The figures in this list are historical and do not guarantee that companies will distribute dividends of a similar amount in the next period.
Investors must continue to monitor profit growth, cash flow generation capability, debt levels, payout ratios, and dividend consistency. High yields can also arise from a decline in share prices or special one-off dividends that may not recur.
Therefore, dividend yield should be used as an initial indicator in the stock screening process, rather than the sole basis for making investment decisions.