Lippo Life pays dividends

JAKARTA (JP): The shareholders of PT Lippo Life, an insurance arm of the Lippo Group, yesterday approved the dividend payment of Rp 35 (1.4 U.S. cents) per share from its 1995 profits, far below 1994's Rp 60 dividends.

The company, however, said in a statement that 1995's total dividends amounted to Rp 6.7 billion or 233 percent above the previous year's figure of only Rp 2.3 billion.

The dividend will be Rp 140 per share with 48 million shares.

"The stock-split and a one-for-one bonus share issue have increased our total shares to 192 million," the statement said.

Last year Lippo Life booked Rp 17 billion in net profits, an increase of 86 percent over the previous year. (alo)