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  • Dividend Payout Ratio 20 %: A. Kondisi Ekonomi Baik

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    Youngky Kelmas
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    The document contains calculations of dividend payout ratios, dividend per share, and stock price under different economic conditions - good, moderate, and poor. It calculates these values for payout ratios of 20%, 40%, 60%, and 80% of a Rp2,500 stock price. In good economic conditions, the stock price decreases as the payout ratio increases. In moderate conditions, the stock price remains constant regardless of payout ratio. In poor conditions, the stock price generally decreases as the payout ratio increases, except for a payout ratio of 40%. The conclusion is that when investment returns are high, dividend payouts should be managed carefully to avoid decreasing stock prices.

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    MANAJEMEN KEUANGAN II

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    The document contains calculations of dividend payout ratios, dividend per share, and stock price under different economic conditions - good, moderate, and poor. It calculates these values for payout ratios of 20%, 40%, 60%, and 80% of a Rp2,500 stock price. In good economic conditions, the stock price decreases as the payout ratio increases. In moderate conditions, the stock price remains constant regardless of payout ratio. In poor conditions, the stock price generally decreases as the payout ratio increases, except for a payout ratio of 40%. The conclusion is that when investment returns are high, dividend payouts should be managed carefully to avoid decreasing stock prices.

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    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views3 pages

    Dividend Payout Ratio 20 %: A. Kondisi Ekonomi Baik

    Uploaded by

    Youngky Kelmas
    The document contains calculations of dividend payout ratios, dividend per share, and stock price under different economic conditions - good, moderate, and poor. It calculates these values for payout ratios of 20%, 40%, 60%, and 80% of a Rp2,500 stock price. In good economic conditions, the stock price decreases as the payout ratio increases. In moderate conditions, the stock price remains constant regardless of payout ratio. In poor conditions, the stock price generally decreases as the payout ratio increases, except for a payout ratio of 40%. The conclusion is that when investment returns are high, dividend payouts should be managed carefully to avoid decreasing stock prices.

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    © All Rights Reserved
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    of 3

    B. 2.

    B
    a. Kondisi ekonomi baik

    Dividend payout ratio 20 %

    DPS =20 % x Rp 2.500,- = Rp 500,-

    500 + 0,13 /0 ,10 { 2. 500 − 500 }


    P = 0,10 = Rp 31.000,-

    Dividend payout ratio 40 %

    DPS =40 % x Rp 2.500,- = Rp 1.000,-

    1 .000 + 0 ,13/0 ,10 { 2.500 − 1. 000 }


    P = 0 ,10 = Rp 31.000,-

    Dividend payout ratio 60 %

    DPS =60 % x Rp 2.500,- = Rp 1.500,-

    1 .500 + 0 ,13/0 ,10 {2 .500 − 1.500 }


    P = 0 ,10 = Rp 28.000,-

    Dividend payout ratio 80 %

    DPS =80 % x Rp 2.500,- = Rp 2.000,-

    2 . 000 + 0,13/0 ,10 { 2.500 − 2.000 }


    P = 0 ,10 = Rp 26.500,-

    b. Kondisi ekonomi sedang

    Dividend payout ratio 20 %

    DPS =20 % x Rp 2.500,- = Rp 500,-


    500 + 0 ,10 /0 ,10 { 2.500 − 500 }
    P = 0 ,10 = Rp 25.000,-

    Dividend payout ratio 40 %

    DPS =40 % x Rp 2.500,- = Rp 1.000,-

    1 .000 + 0 ,10/0 ,10 { 2.500 − 1. 000 }


    P = 0 ,10 = Rp 25.000,-

    Dividend payout ratio 60 %

    DPS =60 % x Rp 2.500,- = Rp 1.500,-

    1 .500 + 0 ,10/0 ,10 {2 .500 − 1.500 }


    P = 0 ,10 = Rp 25.000,-

    Dividend payout ratio 80 %

    DPS =80 % x Rp 2.500,- = Rp 2.000,-

    2. 000 + 0 ,10 /0 ,10 { 2.500 − 2.000 }


    P = 0, 10 = Rp 25.000,

    c. Kondisi ekonomi buruk

    Dividend payout ratio 20 %

    DPS =20 % x Rp 2.500,- = Rp 500,-

    500 + 0 ,08 /0 ,10 { 2 .500 − 500 }


    P = 0 ,10 = Rp 21.600,-

    Dividend payout ratio 40 %

    DPS =40 % x Rp 2.500,- = Rp 1.000,-


    1 . 000 + 0 ,08 /0 ,10 { 2. 500 − 1.000 }
    P = 0 ,10 = Rp 22.000,-

    Dividend payout ratio 60 %

    DPS =60 % x Rp 2.500,- = Rp 1.500,-

    1. 500 + 0, 08 /0, 10 { 2.500 − 1. 500 }


    P = 0, 10 = Rp 20.000,-

    Dividend payout ratio 80 %

    DPS =80 % x Rp 2.500,- = Rp 2.000,-

    2 .000 + 0 ,08 /0 ,10 { 2 .500 − 2 .000 }


    P = 0, 10 = Rp 24.000,

    Dari perhitungan di atas pada kondisi baik return dari investasi lebih besar dibanding modal
    sendiri semakin besar dividen pay ratio semakin besar harga saham turun .Karenaya bila
    keuntungan reinvistasi besar harus waspada pembagian dividennya agar hargasaham tidak
    turun.

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