Sampoerna pays dividend

Sampoerna pays dividend

JAKARTA (JP): Shareholders of cigarette maker PT HM Sampoerna
approved on Tuesday the management's proposal to distribute a
cash dividend of Rp 500 (about 6 U.S. cents) per share for the
1999 financial year.

Finance Director Eka Dharmajantokasih said the shareholders
would only receive Rp 250 of the dividend because the other Rp
250 had been paid as an interim dividend several months ago.

Eka said that the shareholders also agreed to the appointment
of several new members on the boards of directors and
commissioners.

The new directors include Edward H. Frankel, James P. Bernes
and Michael Sampoerna, while the additional members of the board
of commissioners include Phang Cheow Hock and former chairman
Marzuki Usman.

HM Sampoerna posted sales of 29.7 billion cigarettes in 1999,
from 24.7 billion the previous year. In value, its sales in 1999
rose by 59 percent to Rp 7.4 trillion, from Rp 4.65 trillion the
previous year. (udi)