PT Inco declares dividend of $0.0975 per share

The board of commissioners (BOC) of PT International Nickel Indonesia Tbk on Wednesday approved a semi-annual interim dividend of U.S. $0.0975 per share, payable on May 10, 2005 for shareholders of record as of April 25, 2005.

PT Inco president Bing Tobing said the dividend consisted of a 2004 final dividend of $0.0376 per share and an extraordinary dividend of $0.060 per share.

?Indonesian shareholders will be paid in the Rupiah equivalent of the U.S. $ amount based on the Bank of Indonesia middle rate on April 25, 2005, while foreign shareholders will be paid in U.S. $,? Bing said.

Bing also said the BOC also approved the appointments of Takeshi Kubota as the new member of the BOC replacing Shrosuka Schihara and Johannes Cornelius Van Gaalen as the new Director and Chief Financial Officer replacing Raymond W. Westall.

PT Inco operates nickel mines in Soroako, South Sulawesi. The company is 61 percent owned by Canadian nickel miner Inco Limited. (godang)