Astra to pay dividend from profit

Astra to pay dividend from profit

JAKARTA: Indonesia's largest automotive concern PT Astra International wants to pay out 50 percent of this year's net profit in dividend payments to its shareholders, an official with the company said late on Thursday.

Astra's President Director Budi Setiadharma told reporters that he's optimistic creditors will approve the dividend plan by December.

Astra's creditors, mostly foreign lenders, only allowed the company to pay out about 20 percent of last year net profit in dividends, he said.

Singapore's Cycle & Carriage Ltd. owns a 34.3 percent stake in Astra. --DJ