Top 10 Indonesian dividend stocks, ranked by income quality

Only Indonesian operating companies that actually pay are considered: dividends in at least three different calendar years within the last five years, and a trailing twelve-month yield between 1% and 12%. That leaves 43 companies out of 65 payers we can measure. Each one is scored on four things: the income lens (40%), which blends the yield and the length of the payment record against every share on the exchange; the risk lens (25%), which rewards a steady price; trading volume (20%); and trend (15%).

4 further companies have a record of dividends in at least three years but no payment in the last twelve months in our data. Some have stopped paying and others pay on a calendar our feed has not caught up with; they are not ranked, because a yield we cannot measure cannot be ranked.

Income carries the most weight because this is a dividend list, but 60% of the score asks whether the share price has held up and the shares are easy to trade. That is deliberate: a high yield on a falling price is how a dividend cut often looks in advance, and the yield alone cannot tell a generous payer from a company the market has stopped believing.

Of the 43 eligible companies, 29 paid once over the last twelve months, 12 paid twice and 2 paid quarterly. Indonesian companies hold their annual shareholders' meeting in the first half of the year, vote on how much of the previous year's profit to distribute and pay within weeks, so the payments cluster in the middle of the year; those that also pay an interim dividend do so late in the year. Of the ex-dividend dates we hold for the companies on this page in 2025, 62% fell in May, June or July and 17% in November or December.

The yield on this page adds up every payment whose ex-dividend date fell in the last twelve months, divided by today's price, so it changes mainly once or twice a year. A company's payout is set as a share of the profit the year before, which is why a strong year for a commodity producer is followed by a large payment and a weak year by a small one. Special dividends are included.

The typical eligible company yields 6.19%, so a yield of 6% is nothing unusual on this market and not by itself a sign of trouble. 7 companies yield at least one and a half times the typical figure, and 2 of them have a trend lens below 40, meaning a price weaker than most Indonesian shares. Most of the highest yields therefore come with a price that has held up; the minority with a weak trend are the ones to read the latest results for.

Many Indonesian payers are commodity producers, in coal, palm oil, nickel and similar fields, and their payouts rise and fall with commodity prices (we store no industry, so the page cannot count them). A high trailing yield after a strong year can fall sharply after a weak one, so check how the latest year's profit compares with the year the dividend was based on.

3 of the current top ten have "Bank" in the name. 1 is a state-controlled company (the name carries "Persero"). In a state-controlled company the government as controlling shareholder decides at the shareholders' meeting how much profit is paid out and how much is kept, which can change the dividend policy from one year to the next for reasons that have little to do with the company's earnings. Large banks are also among the shares most widely held by foreign funds, so their prices can move on flows into and out of the country as well as on results.

Among the 43 eligible companies the highest trailing yield belongs to Bank Rakyat Indonesia Persero (BBRI) at 11.9%. It ranks 2 here, so on today's data the steadiness rule and the yield rule point the same way. 3 Indonesian payers yield more than 12% and are left out altogether: at that level the cause is usually a one-off special payment or a share price that has already collapsed, and either way the figure is a poor guide to what you would receive next year.

The figure shown is before tax. Indonesian companies withhold tax before paying a dividend to a foreign shareholder, and the rate depends on the tax treaty between Indonesia and the investor's home country and on the investor's own position. Check the current rules with the Indonesian tax authority or a tax adviser before comparing a yield here with what you would actually receive.

The typical eligible company yields 6.19%, and the typical company in the top ten 8.68%. The top ten yields more than the typical payer, but by less than a pure yield ranking would, which is the price of the steadiness rule: the list leans toward above-average yields on shares that have behaved, not the largest yields on offer. The Indonesian Top 10 by price-based X-Ray score ranks the same companies without regard to income.