Medco pays 40% of profit in dividend

JAKARTA: Shareholders of publicly listed energy company PT Medco Energi Internasional approved on Wednesday the company's plan to allocate 40 percent of its 2003 net profit for dividend payment.

In an annual general shareholders meeting, the company's president, Hilmy Panigoro, said that the dividend would be paid on June 23.

Last year, Medco booked a profit of US$53.4 million, down from $82.5 million in 2002. -- JP