DMAS Dividend 2026: Distributing Rp795 Billion to Investors, Here's the Dividend per Share

Rp795 billion flowed into the accounts of shareholders of PT Puradelta Lestari Tbk in early July 2026. That figure was the result of the Annual General Meeting of Shareholders (AGMS) decision that set dividend for DMAS stock for fiscal year 2025 at Rp16.5 per share. 

For those who have long monitored stock coded DMAS, news of the DMAS dividend is actually nothing new. This Kota Deltamas developer has almost never missed distributing profits since listing on the exchange a decade ago.

What is interesting is not just the amount, but the pattern behind it: DMAS consistently distributes almost all of its profit to shareholders, far above the habit of most property issuers. This article breaks down the details of the latest dividend distribution, its historical track record, and future projections.

Key Takeaways

• Final dividend for fiscal year 2025 set at Rp16.5 per share, totaling Rp795 billion, equivalent to a payout ratio of 99.37% of net profit.
• Payment made on July 9, 2026, with a dividend yield of around 10.5% calculated from the stock price at announcement.
• DMAS net profit and revenue jumped sharply in the first half of 2026, opening the opportunity for a larger dividend for the next fiscal year.

Details of DMAS Dividend for Fiscal Year 2025: Rp16.5 per Share, Rp795 Billion

The DMAS AGMS was held on June 15, 2026, and approved the distribution of a final dividend of Rp795 billion, or Rp16.5 per share. 

According to Kontan.co.id, these funds flow to shareholders based on their respective ownership proportions—controlling shareholder PT Sumber Arusmulia received around Rp458.3 billion, Sojitz Corporation received around Rp200.02 billion, while public investors with portions below 5% received a total of Rp141.03 billion.

The schedule is quite tight. Cum dividend in the regular and negotiation markets falls on June 24, 2026, followed by ex dividend the day after. 

For the cash market, cum dividend takes place on June 26 and ex dividend on June 29, 2026. The recording date for entitled shareholders is set for June 26, 2026, with payment made on July 9, 2026.

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At the time of the announcement, DMAS shares were traded at around Rp156–157 per share. With a dividend of Rp16.5 per share, the dividend yield offered reached around 10.5%—far above the average interest on commercial bank deposits, which at that time stood at 3% per year. 

The payout ratio of this dividend was recorded at 99.37% of net profit, almost handing over all fiscal year 2025 profit to shareholders.

In addition to the dividend, the AGMS also approved a change in the board of commissioners: Muktar Widjaja resigned from the President Commissioner seat and was replaced by Teky Mailoa, while Irhoan Tanudiredja joined as a new Independent Commissioner.

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DMAS Dividend Track Record: Why Is the Ratio Almost Always Above 90%?

DMAS's profit-sharing pattern is not a momentary coincidence. Since its IPO in 2015, the company has rarely held back profit in a large portion. In 2019, for example, DMAS distributed a dividend of Rp2.02 trillion with a payout ratio reaching 152%—exceeding that year's net profit itself. 

This figure then fell to 113% in 2020 (Rp1.51 trillion) and 99% in 2022 (Rp1.2 trillion), following the trend of slowing industrial land sales in that period.

Fiscal year 2023 was an exception. DMAS only distributed an interim dividend of Rp12 per share or Rp578.37 billion (equivalent to a payout ratio of around 47.8%), without a final dividend, as management retained part of profit for capital expenditure allocation. 

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However, in fiscal year 2024, DMAS returned to full throttle: final dividend set at Rp29 per share with a total of Rp1.397 trillion, equivalent to a payout ratio of 104.8%—again exceeding current-year net profit. This announcement was immediately responded to by the market with a share price jump of up to 17.88% in a day.

This pattern is what makes DMAS dividend per share always awaited by market participants every year. Management itself emphasized that the high payout ratio is a form of commitment to shareholders, far above the minimum requirement in the IPO prospectus, which only requires distribution of 30% of net profit.

Future DMAS Dividend Prospects: Data Center Is Key

DMAS's financial performance in the first half of 2026 signals that this tradition of jumbo dividends is likely to continue. The company's net profit jumped 154% year-on-year to Rp1.1 trillion, while revenue rose 193.6% to Rp1.8 trillion. This surge was driven by high industrial land absorption in Kota Deltamas.

Interestingly, land demand actually exceeded supply. Investor Daily reported that Head of Research at Pluang Maju Sekuritas, Jason Gozali, noted that DMAS industrial land demand reached 85 hectares, while land reserves as of June 30, 2026, remaining 60 hectares. 

Around 70–75% of that demand came from the data center sector, which has recently been aggressively expanding into the Cikarang area due to its proximity to Jakarta and captive power support. DMAS land pre-sales in the first half of 2026 itself reached Rp1.15 trillion, or 55% of this year's target of Rp2.08 trillion.

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Even so, limited land reserves make some analysts more cautious. RHB Sekuritas downgraded DMAS stock recommendation from buy to neutral with a target price of Rp190, reflecting a 45% discount to the company's net asset value (NAV). 

On the other hand, the dividend projection for fiscal year 2027 remains attractive: analysts estimate the dividend could rise to around Rp30 per share, with a dividend yield of around 15% and a payout ratio of around 95%—consistent with DMAS's style of always returning almost all profit to shareholders.

As an illustration of current market conditions, as of early September 2026, DMAS shares were traded at Rp200, up more than 34% in the last month and 55% year-to-date, with a market capitalization reaching Rp9.64 trillion.

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Conclusion

DMAS dividend for fiscal year 2025 of Rp16.5 per share or a total of Rp795 billion continues the tradition of a high payout ratio that has characterized this Sinar Mas Group issuer since its IPO in 2015. 

Although it slowed in 2023, the jump in profit and revenue in the first half of 2026—driven by industrial land demand from the data center sector exceeding supply—opens the opportunity for an even larger dividend for fiscal years 2026 and 2027. 

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FAQ

What is DMAS dividend for fiscal year 2025? 

DMAS distributed a final dividend of Rp16.5 per share, with a total value of Rp795 billion, equivalent to a payout ratio of 99.37% of net profit.

When is the DMAS 2026 dividend payment made? 

The dividend is paid on July 9, 2026, with the recording date for entitled shareholders falling on June 26, 2026.

What was the dividend yield of DMAS stock at the announcement? 

Based on the share price of around Rp156–157 at the AGMS, the dividend yield offered reached around 10.5%.

Will DMAS distribute dividends again in fiscal year 2027? 

Analysts project that DMAS dividend for fiscal year 2027 could rise to around Rp30 per share with a payout ratio of around 95%, supported by a profit surge from industrial land demand.

Why is DMAS dividend always large compared to other property issuers? 

DMAS has historically distributed almost all of its profit as dividends, with a payout ratio that several times even exceeded 100% of current-year net profit.