Brazilian mobile phone company TIM Participacoes SA (TSU) will pay 171 million Brazilian reals ($89.6 million) in dividends on June 16, with a record date of April 2, the company said Wednesday in a statement.

The company said it will pay BRL0.11 for each outstanding preferred share trading in Sao Paulo and BRL1.1 for each American Depositary Receipt, or ADR.

On Tuesday, the company's shares closed up 1.33% at BRL3.79, on the Sao Paulo Stock Exchange.

TIM Participacoes is the local unit of Telecom Italia SpA (TI)

-By Rogerio Jelmayer, Dow Jones Newswires; 5511 2847-4521; rogerio.jelmayer@dowjones.com