Kedaung to pay dividends

Kedaung to pay dividends

JAKARTA (JP): PT Kedaung Indah Can, an enamelware producer, announced yesterday after its annual shareholders' meeting that it will pay Rp 30 billion cash in dividends (US$13.48 million) or Rp 60 per share to its shareholders.

Johan Dharmawan, the company's president, said that in addition to cash dividends, accounting for 30 percent of its net profit, shareholders will also get bonus shares each with a face value of Rp 1000 on a basis of 16 bonus shares for 50 existing shares.

He said the company's sales revenues rose by 18 percent to Rp 49.93 billion in 1994 over the previous year, while its net profit grew by 21 percent to Rp 9.06 billion.

Dharmawan said the company's total assets increased by 29.5 percent from Rp 77.82 billion as of 1993 to Rp 100.81 billion as of last year.

With the operation of Borneo Enamel Industrial Sdn. Bhn., Kedaung Indah's subsidiary in Brunei, the company plans to increase its sales revenues to Rp 62.5 billion in 1995 in order to obtain a net profit of Rp 10 billion. (32)