MedcoEnergi allocates $35.06 million for dividend payment

Publicly listed oil and gas firm PT Medco Energi Internasional Tbk announced Thursday its annual general meeting of shareholders decided to distribute about 50 percent of the company?s 2004 net profit for dividend payments.

MedcoEnergi?s net profit reached US$70.1 million last year.

The dividend of $0.0105 each share, for shareholders of record as of July 5, 2005, will be paid on July 19, the company said. (dino)