Lautan Luas pays dividends

JAKARTA (JP): Shareholders of publicly listed PT Lautan Luas approved on Monday the management's proposal to pay a total dividend of Rp 133 (about 2 U.S. cents) per share for the 1998 financial year.

The company said it had paid the interim Rp 100 dividend and issued 8 bonus shares for every five existing shares between November and December last year.

The company said it would pay the remaining Rp 33 dividend starting July 15.

Lautan Luas' net profit jumped by 412.3 percent to Rp 93.1 billion in 1998.

The soaring profit resulted from an increase in net sales to Rp 600.4 billion, or up by 90.5 percent compared to the previous year.

The company's core activity includes the distribution of basic and specialty chemicals. (udi)