Inco's interim dividend

Inco's interim dividend

JAKARTA (JP): Publicly listed nickel miner PT International
Nickel Indonesia (Inco) announced here yesterday its board of
commissioners has approved an interim dividend in respect of 1997
of 5 U.S. cents per share.

The company said dividends would be payable on Dec. 18 to
shareholders of record as of Nov. 19.

Indonesian shareholders will be paid in rupiah equivalent of
the U.S. dollar based on Bank Indonesia's middle rate on Nov. 10,
and foreign shareholders will be paid in U.S. dollars.

Inco reported in August first half earnings of $17 million (7
cents per share) against $39.5 million (16 cents per share) in
the same period of 1996.

Commissioners took into account the substantial continuing
capital spending being undertaken by Inco on its expansion
project in Soroako, South Sulawesi.

The project is to increase its annual production capacity 50
percent to 150 million pounds of nickel in matte, the company
said. (icn)