IDX Approves Historic $98M Special Dividend Ahead of Landmark Demutualization

JAKARTA, Investortrust.id — The Indonesia Stock Exchange (BEI) has authorized a historic cash distribution to its shareholders, approving a special dividend worth Rp 1.564 trillion ($98.36 million) during an extraordinary general meeting of shareholders (EGMS) held on Wednesday, Oct. 28, 2026.

The corporate action marks the first time in the exchange operator’s operating history that it has paid out a special dividend to its equity holders. The decision was formally adopted during the virtual EGMS convened at the BEI Main Hall in Jakarta.

The multi-trillion-rupiah payout signals the commercial maturation of Southeast Asia's primary equity venue as it prepares for structural demutualization. By unwinding legacy retained earnings to existing member broker-dealers while setting aside designated operating reserves, the exchange operator is cleaning up its capital ledger before introducing strategic state institutions, institutional investors, and public capital under new governance rules.

Speaking at a virtual press conference following the EGMS, BEI President Director Jeffrey Hendrik said the special payout will be distributed exclusively to shareholders of record as of Tuesday, Oct. 27, 2026.

"The distribution of a cash dividend, which constitutes a special dividend to eligible shareholders registered in the company's shareholder register as of Oct. 27, 2026, carries an aggregate value of Rp 1.564 trillion, or equivalent to Rp 17 billion ($1.07 million) per share," Jeffrey told reporters.

Operational Reserves and Regulatory Approvals

Beyond the special cash payout, shareholders unanimously ratified the appropriation of the bourse operator’s retained earnings balance, based on its audited interim financial statements as of June 30, 2026.

Under the approved resolution, BEI will earmark Rp 2 trillion ($125.79 million) as an operational and enterprise development reserve fund. The deployment of this reserve remains contingent on final statutory approval of the company's 2027 Annual Work Plan and Budget (RKAT 2027) and proposed articles of association amendments by the Financial Services Authority (OJK).

"Following the approval of the 2027 RKAT and articles of association by the Financial Services Authority, the funds will be utilized as the company's operational and development reserve in compliance with Article 26, paragraph 2 of POJK 13/2026, amounting to Rp 2 trillion," Jeffrey explained.

Demutualization and Capital Modernization Path

The historic dividend lands weeks after the OJK enacted Regulation No. 13 of 2026 (POJK 13/2026) on Indonesia Stock Exchange Shareholders, which took effect on Sept. 17, 2026. The statute establishes the definitive legal architecture to execute the demutualization of the domestic bourse, officially severing equity ownership from broker trading privileges and opening the register to outside Indonesian individuals and corporate entities.

Under Article 15 of POJK 13/2026, the bourse operator is explicitly authorized to issue new shares via rights offerings or resell treasury equity to restructure its ownership.

BEI Director of Development Iding Pardi previously pointed out that issuing new primary shares will dilute the collective ownership stake held by existing member brokerages (Anggota Bursa). However, existing members stand to capture substantial equity windfalls should incoming shares be priced above the exchange's book value, smoothing the runway for strategic stakeholders like state investment fund BPI Danantara to secure targeted non-controlling positions.