Inco holds dividend payment

Inco holds dividend payment

JAKARTA (JP): Nickel producer PT International Nickel
Indonesia, a subsidiary of the Toronto-based Inco Ltd. said
Tuesday it has deferred payment of the 1998 interim dividend.

The company said in a statement on Tuesday that the decision
was taken due to the continuing low level of nickel prices and
the adverse impact of the weather phenomenon "El Nino" on its
hydro-electric generating facilities.

In addition, it said, the "continuing substantial capital
spending currently being undertaken by the company on its
expansion project" also contributed to the decision.

It said the interim dividend payment will be discussed at its
annual general meeting in April 1999 when it decides on the final
dividend. (jsk)