Medco to pay dividend of $0.015 per share

IDX-listed energy firm PT Medco Energi Internasional Tbk. said shareholders agreed at a general meeting Tuesday to allocate US$50 million of last year`s net profit as dividends or US$0.015 a share.

The dividends accounted for 17.8 percent of 2008 net profit worth US$280.2 million, the company`s president director, Darmoyo Doyoatmodjo said.

The rest would be allocated as retained earning, working capital and investment, he said.

Medco posted a net profit of US$7.5 million in the first quarter of 2009, a 67 percent drop from the same period a year earlier. (bernard)