Firms don't pay dividend<\/p>\n
JAKARTA (JP): Publicly-listed firms PT Unggul Indah
\nCorporation (UIC), PT Bank Arya Panduarta and PT Bank Indovest
\nall booked profits last year despite the crisis but decided not
\nto distribute dividends.<\/p>\n
UIC, the country's sole producer of chemical alkylbenzene,
\nreported at an annual shareholders meeting yesterday that its net
\nprofit dropped to Rp 6.2 billion (about US$442,500) last year
\nfrom Rp 40.7 billion in 1996.<\/p>\n
However, the company decided not to pay dividends and to use
\nthe profits to strengthen its financial standing.<\/p>\n
Bank Arya booked a net profit of Rp 9.5 billion last year, up
\nfrom Rp 8.8 billion in 1996, and Bank Indovest recorded a net
\nprofit of Rp 12.8 billion last year.<\/p>\n
Both banks, however, decided at separate shareholders meetings
\nthat they would not pay any dividends from last year's profits.<\/p>\n
Meanwhile PT Ricky Putra Globalindo, producer of men's
\nunderwear with the brand name GT Man Anti Slip, reported a net
\nloss of Rp 18.5 billion last year and therefore, it could not pay
\ndividends.<\/p>\n
Nevertheless, the company has already booked a before-tax
\nprofit of Rp 5.4 billion for the first quarter of this year,
\nthanks to its increasing exports. (rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/firms-dont-pay-dividend-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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