Karena banyak yang tanya saya mengenai dividen $SMDR, berikut hasil analisa saya:

Samudera shipping lines (SSL) gave out around 40% last year profit as dividends Last year profit of SSL is at around 128 mln USD or around 1.8T rupiah. $SMDR owns 65% of SSL
Last year earning of SMDR is at 1,328T from which 1,22T comes from SSL.

SMDR got around 500 milyar from dividend from SSL. Since the bulk of $SMDR business profit and cash holding comes from SSL, it's very likely that the dividends from SSL will be passed onto $SMDR shareholders. SMDR's business in other segments is not as big as SSL and will likely not contribute significant dividend payments.

Thus, dividing the dividend from SSL by the number of shares outstanding, $SMDR estimated DPS is at around 160IDR per share.

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Share outstanding $SMDR tidak sama dengan SSL
ratio outstanding SSL dibanding $SMDR kira2 0.11

Nah.. kalau kita lihat history dividen SSL

2020: SGD0.0075 * 10,400 IDR/SGD * 0.11 = 8.83
2020 $SMDR bagi 8 IDR per share

2021: SGD0.0105 * 10,700 IDR/SGD * 0.11 = 12.35
2021 $SMDR bagi 10 IDR per share

2022: SGD0.14 * 10,600 IDR/SGD * 0.11 = 163.24
Mestina EPS gak jauh dari angka ini di 160 an.

Lini bisnis $SMDR untuk domestik profitnya hanya sekitar 100 milyar selama FY2021 kalau $SMDR mau bagi deviden dari ini, tergantung dari payout ratio max akan nambah 30 per share.

Jadi DPS saya estimasi di 160-200. 😇