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SLT declares 3 per cent dividend

by Ravi Ladduwahetty

The Sri Lanka Telecom (SLT) has declared a three per cent Interim and Final dividend for 2002 following the 32.9 percent growth in profits for the first nine months of the 2002 over the corresponding period a year ago, SLT Chairman Thilanga Sumathipala told the Daily News yesterday.

All shareholders of the company, inclusive of those who purchased shares at the oversubscribed Initial Public Offering (IPO) would also be entitled to this dividend which will cost the company Rs. 541.15 million, he said.

Turnover of the Group has increased to Rs. 18,579 million for the first nine months of 2002 while the post tax profits increased to Rs. 2,425 million, increases of Rs. 15 percent and 38 percent respectively.

Profits for the first nine months have increased to Rs. 3.9 billion over the Rs. 2.8 billion for the corresponding period a year ago. There has also been a dramatic increase in the Earnings Per Share to Rs. 1.79 from Rs. 1.17 between the two periods.

Sumathipala also attributed the growth in profits to the increase in the tariff and the savings on the management fees of Rs. 540 million to the Nippon Telegraphic and Telephone Co. Ltd SLT increased its subscriber base to 750,000 last year and added 45,000 lines in the last quarter of 2002.

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Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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