By Berni Moestafa
April 23 (Bloomberg) -- PT Berlian Laju Tanker, Indonesia’s biggest shipping company, dropped the most in more than two months in Jakarta trading after slashing its dividend. Berlian declined as much as 10 percent to 630 rupiah, the sharpest intraday drop since Feb. 17. The stock was trading at 660 rupiah as of 10:07 a.m. local time, while the Jakarta Composite index retreated 0.7 percent. The shipping company will cut its dividend to 5 rupiah a share from 50 rupiah a year earlier, Finance Director Kevin Wong said yesterday after a shareholders meeting. The company is cutting the payout to preserve funds for expansion.
Souce: Bloomberg --Editors: Anand Krishnamoorthy, Neil Denslow
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