Langgeng pays dividend

SURABAYA (JP): Shareholders of the publicly listed PT Langgeng Makmur Industri have approved a proposal to issue 26.43 million new shares as dividend.

PT Langgeng, plastic and aluminum household furniture producer, said yesterday existing shareholders would receive 14 new shares as dividend for every 100 old shares they hold.

The new shares will be issued by converting part of the company's retained earnings into capital.

The company would also distribute Rp 4.95 billion or Rp 26.25 per share as cash dividends for 1996, it said.

It booked Rp 6.59 billion in net profit during this year's first semester, up 19.21 percent from the same period, the company said. (das/nur)