Telkom gives $382m in dividends

Telkom gives $382m in dividends

JAKARTA: The publicly-listed state-owned telecommunications
firm PT Telkom said it would distribute dividends of Rp 3.3
trillion (US$382 million) or Rp 304.26 per share for the 2002
financial year.

The proposal was approved during an annual shareholders
meeting on Friday.

The dividend represents 40 percent of the company's 2002 net
profit of Rp 8.34 trillion.

The meeting also agreed to allocate Rp 4 trillion for capital
expenditure this year, and Rp 20 billion for community
development programs.

Shareholders also approved a proposal to pay company president
with a basic salary of Rp 65 million per month, and Rp 58.5
million per month for directors.

The Indonesian government owns a 51.2 percent stake in Telkom
and the public holds the remaining 48.8 percent. -- JP