PT Jasa Armada Indonesia, the ship-pilotage and towage arm of Indonesia's state port operator Pelindo, will pay a final dividend of 19.35 rupiah per share, bringing its total payout for 2025 to 125.51 billion rupiah, about 7 million US dollars, most of which flows up to its state parent.
Shareholders approved the distribution at the company's annual meeting in Jakarta on Tuesday. The final dividend, worth 102.26 billion rupiah, comes on top of an interim payment of 4.4 rupiah per share, or 23.25 billion rupiah, made on January 15. Together they amount to 23.75 rupiah per share and represent a payout ratio of 63.9 percent of the company's 2025 net profit. A further 5.63 billion rupiah of profit was set aside as a legal reserve.
Cash routed to Pelindo
Most of the money returns to the controlling group. PT Pelindo Jasa Maritim, the immediate parent and the controlling shareholder, will receive 78.6 billion rupiah from the final dividend, while PT Pelabuhan Indonesia Investama is due 11.02 billion rupiah. Public investors holding less than 5 percent each will share 12.58 billion rupiah, with smaller portions going to president director Shanti Puruhita and president commissioner Dewi Ariyani in line with their respective holdings.
The company, which trades on the Indonesia Stock Exchange under the ticker IPCM, is a subsidiary of Pelindo Jasa Maritim, a sub-holding of PT Pelabuhan Indonesia, the state-owned operator that runs most of the country's ports after a 2021 merger of its regional units. The ticker traces back to the company's origins as the marine arm of the former Pelindo II, also known as Indonesia Port Corporation.
A steady, fee-based business
The payout follows a record year. Net profit rose about 17.7 percent in 2025 to 196.44 billion rupiah, while revenue grew 9.65 percent to 1.47 trillion rupiah, around 83 million dollars. The company attributed the gains to higher volumes of pilotage and towage work, along with tighter cost control. During the year it extended towage agreements at a coal terminal operated for miner Bukit Asam and renewed pilotage and towage services at a floating storage and regasification unit run by Nusantara Regas.
IPCM's business is a niche but steady one. It guides and tows vessels in and out of ports, including the country's busiest, Tanjung Priok in Jakarta, and operates across terminals such as the newer Patimban port and several offshore gas and ship-to-ship transfer zones. The work generates the kind of fee-based, infrastructure-like cash flow that supports a generous distribution.
That shows up in the stock. IPCM is a small-cap, with a market value of about 1.49 trillion rupiah, roughly 84 million dollars, but a high-yielding one, offering a dividend yield of close to 8 percent. For Pelindo, the payout is a modest but reliable stream of cash upstreamed from a specialist maritime-services unit, at a time when Indonesia is leaning on its ports to support trade and energy logistics.
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