Antam allocates Rp 68 billion for dividend payment
Monday, April 19 2004 - 01:04 PM WIB
State-owned gold and nickel miner PT Aneka Tambang, Monday said it plans to set aside as much as 30 percent of its 2003 net profit or about Rp 68 billion (US$=Rp 8,603) for dividend payment, Dow Jones reported.
"We will hold a shareholders' meeting on May 27 to seek approval for the dividend payment plan," Antam's spokesman Dohar Siregar told reporters.
He didn't provide any other details.
The company's net profit last year rose 28 percent to Rp 226.55 billion from Rp 177.40 billion a year earlier.
Antam is one of several state-owned companies that the government plans to divest in the first half of this year.
The government plans to sell up to a 14 percent stake in Antam through a secondary public offering to narrow its budget deficit. The government has a 65 percent stake in Antam.
Dohar said the government has named local state-owned securities company PT Mandiri Sekuritas to underwrite the offering. (*)