Timah plans to pay 30%-40% of 2003 net profit as dividend
Wednesday, March 24 2004 - 12:51 AM WIB
The management of state-owned tin miner PT Timah plans to allocate 30-40 percent of its 2003 net profit as dividend, according to Bisnis Indonesia daily in its Wednesday edition.
Timah president Thobrani Alwi said the company would seek approval for the proposal at the upcoming annual shareholders meeting in May.
He said that the size of the proposed dividend was equal to is being offered by other state-owned companies. Timah is also a publicly listed firm.
Meanwhile, Investor daily reported that the Timah sales for 2003 will likely reach Rp 1.8 trillion, or an increase of 13.8 percent in compared to the 2002 sales of Rp 1.59 trillion. But he said that the figure was not yet final as the auditing process has yet to be completed.
“The auditing process is not yet completed, maybe, we will announce our sales figures this weekend,” Thobrani said. (*)