Matahari to pay 30.5% dividend

Matahari to pay 30.5% dividend

JAKARTA: PT Matahari Putra Prima, Indonesia's biggest retailer by sales, said it will pay 30.5 percent of its 2003 profit as dividends.

Tangerang-based Matahari will pay Rp 35 billion (US$3.86 million), or Rp 13 a share, in dividends, Matahari director Danny Kojongian told reporters after a meeting with shareholders in Jakarta on Friday.

Matahari earned Rp 115.47 billion in net income on Rp 5.06 trillion in sales last year, it said in March. -- Bloomberg