Dividends unaffected by Lippo profit fall
Financial services provider, Lippo has announced a slight decrease in net profit to $355.8 million for the year ending December 31, compared with $370.4 million the previous year.
The company also reported an exceptional gain of $231 million versus a similar gain of $219.3 million a year earlier.
Last night directors recommended the payment of a final dividend of 13 cents per share compared with the 12.5 cents per share they paid out last year.
Together with the interim dividend already paid out the company will pay out a full dividend of 20 cents per share compared with the 19.5 cents per share they paid in 1995.
Lippo chairman Stephen Riady said the company would continue to strengthen its core business, particularly in the financial service sector in the coming years. He also said they would seek out more investment opportunities in Hong Kong and China.
