Indosat to pay interim dividends in November<\/p>\n
JAKARTA (JP): PT Indosat, the first Indonesian company listed
\non the New York Stock Exchange, will pay interim dividends of Rp
\n64 (2.4 U.S. cent) a share to its shareholders.<\/p>\n
Indosat's president Tjahjono Soerjodibroto said yesterday that
\nthe dividends, accounting for about 30 percent of the company's
\nearning per share of Rp 213.1 for the six months ending in June,
\nwould be paid in November.<\/p>\n
\"The investors holding ADS (American Depository Shares) will
\nget their dividends in U.S. dollars based on the rupiah rate
\nduring the payout time,\" he told the press during the
\nannouncement of Indosat's financial statements for the first
\nsemester and second quarter of this year.<\/p>\n
Indosat, a provider of international telecommunication
\nservices, booked a 16.4 percent increase in its total operating
\nrevenues in the second quarter of this year. They increased to Rp
\n259.7 billion ($115.6 million) from Rp 223 billion in the
\ncorresponding period of last year.<\/p>\n
The rise resulted in a 15.4 percent increase in the company's
\ntotal revenues in the first six months ending in June to Rp 498.4
\nbillion from Rp 431.9 billion in the same period of 1994.<\/p>\n
Tjahjono said the company's financial revenue performance
\nduring the first semester of this year was very encouraging
\ndespite a slight drop in its market share following the creation
\nof PT Satelindo last November.<\/p>\n
Satelindo took around 2.3 percent of our market in the first
\nsemester of this year, he said. He predicted the new rival would
\ntake the same amount in the second semester.<\/p>\n
\"Satelindo is expected to reduce our market by between 5 and 6
\npercent,\" Tjahjono told The Jakarta Post about the impact of the
\ncompany's operation to Indosat's financial performance.<\/p>\n
Tjahjono said he was optimistic that the short-term impact of
\nSatelindo's operation would remain insignificant, given his
\ncompany's strong commitment in improving its competitive edge.<\/p>\n
Indosat's net income in the second quarter ending in June
\nrose by 81.4 percent to Rp 115.2 billion from Rp 63.5 billion in
\nthe same period of 1994.<\/p>\n
The significant increase in the April to June period further
\nraised Indosat's net profit in the first semester of this year by
\n73 percent to Rp 220.7 billion from Rp 127.6 billion in the
\ncorresponding period of 1994.<\/p>\n
Tjahjono said that the total earning of the company is
\nprojected to increase by between 45 percent and 55 percent in
\n1995.<\/p>\n
Indosat floated its American Depositary Shares -- a depository
\ncertificate of 10 stocks -- on the NYSE in October last year as
\nthe first state-owned firm to be listed on overseas stock market.
\nThe price of the company's shares on the local exchange dropped
\nby about Rp 50 yesterday to close at Rp 8,475 despite the
\ncompany's promising financial performance. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indosat-to-pay-interim-dividends-in-november-1447893297",
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