PT Indocement pays dividends

JAKARTA (JP): Shareholders of PT Indocement Tunggal Perkasa, a major cement producer, yesterday approved management's proposals on dividend payment and share division.

The company said in a statement that it will pay final dividends of Rp 120 (5.12 U.S. cents).

The total dividend for 1995 is Rp 160 because the company paid an interim Rp 40 dividend last September.

Total dividends will amount to Rp 193.2 billion or 40.6 percent of the company's 1995 net profit.

Indocement's consolidated net profit was Rp 476 billion last year, while its consolidated net revenue reached Rp 3.9 trillion.

The statement also said it will split its stocks by halving their nominal value to Rp 500 per share.

The stock split, which is scheduled before this year's end, will double the number of shares to 2.4 billion.

"The main purpose of the stock split is to increase the liquidity of our shares," the statement said.

For the first quarter of 1996, Indocement reported a 16 percent increase in consolidated net profit to Rp 100 billion from Rp 86.6 billion in the same period last year. Its consolidated net revenue increased by 14 percent to Rp 996 billion in the first quarter over the same period last year. (alo)