TOTL

PT Total Bangun Persada Tbk (TOTL) approved a record cash dividend of Rp375.1 billion, equal to Rp110 per share and representing 90.49 % of its 2025 net profit, yielding about 8.98 % based on the intraday price of Rp1,225. The payout will be processed between 18 May and 5 June 2026, with ex‑dividend dates on 19 May (regular) and 21 May (cash). The generous dividend is expected to boost investor interest and support TOTL’s share price in the near term.

Indonesia’s construction‑sector earnings in 2025 diverged sharply: private firms such as PT Total Bangun Persada Tbk (TOTL) and PT Nusa Raya Cipta Tbk (NRCA) posted strong revenue growth (26% and 7% YoY) and profit surges (56% and 115% YoY), while state‑owned builders—including PT Waskita Karya Tbk (WSKT), PT PP Tbk (PTPP), PT Adhi Karya Tbk (ADHI) and PT Wijaya Karya Tbk (WIKA) – recorded falling sales and net losses. Analysts attribute the gap to better balance‑sheet flexibility for private players, which can pursue new contracts despite higher material costs and borrowing rates, whereas BUMNs focus on debt restructuring. The mixed results lifted the outlook for private construction stocks in 2026, but kept pressure on BUMN shares, limiting broader market gains in the sector.