Bank Rama pays dividends

JAKARTA (JP): Bank Rama, a commercial bank listed on the Jakarta Stock Exchange (JSX), plans to pay cash dividends of Rp 85 (3.8 U.S. cents) per share for its 1994 operations.

The dividend payout plan was approved during the annual meeting of the bank's shareholders on Monday.

The bank announced yesterday that the amount of the dividends would represent around 40 percent of the bank's net profit of Rp 16.1 billion (US$7.3 million) booked in 1994. The other 60 percent of the net earnings would be retained to strengthen its capital structure.

The bank, which began its capital market debut last year, booked a total asset of Rp 625 billion as of 1994, an increase of 49.16 percent from that recorded in the previous year.(hen)