Inco to pay dividends

Inco to pay dividends

JAKARTA (JP): PT International Nickel Indonesia (Inco)
reported yesterday that its board of commissioners has approved
the company's proposal to pay interim dividends of five U.S.
cents per share.

The dividends, which will be payable on Dec. 7, will be
eligible for shareholders listed in the company as of Nov. 7, the
company's spokesman Martin H. Robinson said in a statement
yesterday.

"Indonesian shareholders will be paid in the rupiah equivalent
of the U.S. dollar amount based on Bank Indonesia's middle rate
quoted on Nov. 7, while foreign shareholders will be paid in U.S.
dollars," he said.

He said Inco's net earnings for the first half of this year
reached US$16.1 million, as compared to $8.9 million for the same
period of last year.

The company, which is owned by Inco Ltd., Sumitomo Metal
Mining Co. Ltd. of Japan, individuals and the investing public,
deals with nickel mining at Soroako in Sulawesi for producing
nickel matte. (fhp)