Antam to pay Rp148.1 dividend

State-owned diversified mining company PT Antam Tbk announced Monday its Annual General Meeting of Shareholders (AGM) and Extraordinary General Meeting of Shareholders (EGM) had agreed to pay a cash dividend in the amount of Rp 282.5 billion, or 35 percent of Antam's net profits after tax for the year ended December 31st, 2004.

?The final cash dividend, which is equivalent to Rp148.08 per share, including the Rp.19.6 per share interim dividend distributed in January 10th, 2005. The remaining dividend of Rp128.48 per share will be paid on June 30th, 2005,? Antam?s President Director, Dedi Aditya Sumanagara said.

Dedi said the AGM also ratified and gave the Board of Commissioners the authority to stipulate the distribution of the duties and authority of the Board of Directors, as well as the organizational structure of the Company.

During the EGM, Antam?s shareholders stipulated the requirement of written approval from the Board of Commissioners to release or guarantee fixed assets in an amount exceeding Rp1 billion.

?The Board of Commissioners must also give its written approval for any sales contracts with third parties of an amount exceeding, or with a financial impact of, more than 25% of more the Company?s assets,? Dedi added. (godang)