Timah to pay dividend of Rp. 6.42 per share

Shareholders of Indonesia's PT Timah, the world's largest integrated tin miner, approved on Thursday a dividend payout of 40 percent of 2002 net profit, which translates into 6.42 rupiah a share.

Timah'S 2002 net profit was 11.3 billion rupiah ($1.3 million), down from 36.8 billion in 2001.

The state-run firm's dividend compares with a year-earlier dividend of 24.83 rupiah a share, or 34 percent of 2001 net profit.

By midday, Timah shares were down 25 rupiah at 700 rupiah.(*)