Timah allocates 50% as dividend payment

JAKARTA: State-owned mining company PT Timah has decided to allocate 50 percent of its 2003 net profit for dividend, or Rp 67.79 per share.

Timah president Thobrani said on Wednesday that the company's shareholders had agreed to allocate Rp 34.12 billion (US$3.87 million) in dividend.

Last year, the company's net profit surged by more than 400 percent to Rp 76.4 billion, from Rp 13.4 billion in 2002, due to an increase in the global price of tin. -- JP