Inco's 2003 dividend rises to $0.20 per share
Thursday, April 1 2004 - 05:34 AM WIB
PT International Nickel Indonesia (Inco) on Thursday declared a dividend payment of US$0.20 per share for 2003.
The decision was approved by shareholders at an annual shareholders meeting in Jakarta.
The 2003 dividend was drastically higher than the 2002 dividend of $0.01 per share, the company said.
Inco's net earnings skyrocketed to $104.2 million in 2003, from $30.3 million in the previous year on higher commodity price and output.
The firm's nickel in matte production in 2003 rose by 18 percent to 70,200 tons from 59,500 tons in 2002.
Inco operates a huge nickel mine in Soroako, South Sulawesi, and is owned by Canadian nickel miner Inco Limited (58.73 percent), Sumitomo Metal Mining Co., Ltd. of Japan (20.09 percent) and the public (21.18 percent). (robert)