Petrosea pays dividends

JAKARTA (JP): Publicly listed PT Petrosea, an engineering construction and contract mining services firm, will pay dividends of one U.S. cent for the 1998 financial year.

The company said the dividends, approved by shareholders at the annual shareholders meeting on Friday, would be paid in rupiah on July 15.

The company reported a net profit of Rp 153.85 billion (about US$20 million) last year, an 83 percent increase from the Rp 84 billion it booked in 1997.

The company's operating income rose by 205 percent in 1998 to Rp 813.50 billion from Rp 266.96 billion in 1997.(cst)