Makindo pays dividend

JAKARTA (JP): Publicly listed securities firm PT Makindo will pay a dividend of Rp 73.5 (less than 1 U.S. cent) per share for the 1997 financial year.

The company's president Gunawan Yusuf said yesterday that about 80 percent of the company's profits was distributed as cash dividends to its shareholders.

"The cash dividend equals Rp 73.5 per share," he said after holding the company's general shareholders meeting.

Makindo, one of three securities companies listed on the Jakarta Stock Exchange (JSX), reported a 32 percent increase in net profit, to Rp 80.6 billion ($8.95 million) in 1997 from Rp 61.1 billion in 1996.

He said the company recorded a total operating income of Rp 95.6 billion last year, up 1 percent from Rp 93.9 billion in 1996.

Investment banking contributed Rp 57.4 billion to the company's operating income, stockbroking Rp 34.2 billion and investment management Rp 1.1 billion, he added. (aly)