PERTAMINA PROPOSES 45-PERCENT DIVIDEND ON FISCAL 2008

Jakarta, June 16 (ANTARA) - State oil and gas company PT Pertamina (Persero) has proposed paying a dividend of 45 percent or Rp13.59 trillion to the government for fiscal 2008, the company's chief said.

"For 2008 we have proposed paying the same amount of dividend as for the preceding year," Pertamina President Director Karen Agustiawan said after attending a general shareholders' meeting (RUPS) at the state enterprises ministry here on Monday.

The meeting discussed the company's financial performance in 2008, and the amount of dividend to be paid to the government, she said.

Pertamina is the state-owned company routinely making the largest contribution in the form of dividends to the state.

"There was an agenda on dividends but the amount of the dividend approved by the government has not decided," he said.

In the fiscal year 2008, PT Pertamina (Persero) booked a consolidated net profit of Rp30.2 trillion, up 54.8 percent from Rp19.51 trillion in 2009.

The company's net profit was announced at a general shareholders' meeting (RUPS) which was attended by the company's directors and commissioners here Monday.

Present at the meeting was also Sahala Lumban Gaol, deputy state enterprise minister in charge of mining, strategic industries, energy and telecommunication (PISET).

The RUPS was also told Pertamina's consolidated revenue in 2008 totaled Rp554.21 trillion, up 44.5 percent from Rp383.60 trillion in 2007.

Gaol explained the net profit of the oil company amounting to Rp30.20 trillion exceeded the target which had been set in the company's Budget Working Plan (RKAP) 2008 at Rp25.445 trillion.

However, Sahala Goal did not give details of the amount of dividends to be paid by Pertamina to the state.

"It has not been decided, because the results of the audit has not been completed. But they have suggested that it should be the same amount as in 2007, namely 45 percent of the net profit," he said.