Ramayana to pay dividend

Ramayana to pay dividend

JAKARTA: PT Ramayana Lestari Sentosa would be paying a
dividend of Rp 30 a share from 2004 net profits, and the
Indonesian retailer also plans to open new stores, an official at
the company said on Monday.

Lukito Gozali, Ramayana's corporate secretary, said the total
amount of the cash dividend the company would pay to shareholders
represents 67 percent of the Rp 312 billion (US$32.5 million) net
profit it booked last year.

The retailer -- which sells items including clothing,
household products, toys and stationary -- paid a dividend of Rp
120 a share for 2003.

"We have a lot of cash (for the dividend) as the company is
debt free," Gozali said.

He said the company planned to spend between Rp 400 billion
and Rp 450 billion to open new stores, mostly in areas outside
Java, such as Sumatra, Kalimantan and Sulawesi.

Around two-thirds of the retailer's more than 80 stores are
located in Java.

The company, which caters to middle and lower income
customers, is opening 10 new stores this year, in a move expected
to help boost 2005 net profit to Rp 345 billion, Gozali said. --
Dow Jones