Soedarpo pays dividends

JAKARTA (JP): A sharp decline in profits has prompted shareholders of the publicly-listed PT Soedarpo Corporation to not give dividends to its founders.

The company's president, Santi L. Poesposoetjipto, said that the shareholders agreed to the directors' suggestion that Rp 107.52 million (US$47,890), or 24.09 percent, of last year's net profit be distributed only to the company's public shareholders.

"Public shareholders will accept dividends of Rp 25 for each of their shares," Santi was quoted yesterday by Antara as saying.

She said the company's after-tax profit fell by 53.35 percent to Rp 446.21 million in 1994 from Rp 956 million in 1993 in spite of a 15.27 percent increase in its sales revenues to Rp 120.49 billion from Rp 104.53 billion.

"The company will retain the rest of last year's profit to support its operational expenses," she said.

The company operates in the distribution of computers and pharmaceutical products.(31)