Bintang to split shares

JAKARTA (JP): Shareholders of publicly listed PT Asuransi Bintang agreed yesterday to distribute Rp 1.38 billion (US$563,725) or Rp 300 a share as dividends and split the par value of its shares.

The general insurance company said the dividend pay out would account for 56.5 percent of its total net profit last year.

Bintang's net profit rose 42 percent last year to Rp 2.77 billion from Rp 1.95 in 1995.

Its premium net income also rose to Rp 26.53 billion from Rp 24.17 in 1995 and its assets increased 20.28 percent to Rp 60.79 billion.

Shareholders approved the management's proposal to split the nominal share price to Rp 500 from Rp 1,000. This will double the company's issued shares to 9.2 million. (das)