Sampoerna splits shares

SURABAYA, East Java (JP): Cigarette producer PT HM Sampoerna will pay a Rp 275 (12 U.S. cents) cash dividend (12 U.S. cents) for the 1995 financial year.

The dividend payment was approved during a shareholders' meeting on Thursday.

Putera Sampoerna, the chief executive officer of the publicly listed company, said shareholders had also approved to cut the par value of the company's stocks by a half from Rp 1,000 to Rp 500.

The stock split, which would double the number of shares, will reduce share prices by half.

Sampoerna's net profit increased by about 45 percent last year to Rp 352 billion from Rp 243 billion in 1994. (15/hen)