Lippo Life pays dividend

JAKARTA (JP): Publicly listed insurance company PT Lippo Life will pay Rp 15.5 billion (US$6.51 million) in interim dividends on April 29.

The company said the dividends from the company's 1996 Rp 50.1 billion profit was Rp 40 a share or equal to Rp 80 per share if calculated before last year's one-for-one rights issue.

"In essence, this year's dividend of Rp 15.5 billion is 2.3 times higher than last year's," the company said.

Last year, the firm paid Rp 6.7 billion in dividends.

The company said its net profit rose 149 percent to Rp 50.1 billion last year.

The company's premium income rose from Rp 368.6 billion in 1995 to Rp 478.4 billion in 1996, while investment funds increased from Rp 570.9 billion to Rp 1.7 trillion and investment income from Rp 86.6 billion to Rp 134.4 billion. (09)