DP World to pay out 24 US cents per share

A total of US$199 million to be split amongst firm's shareholders.
Dp world, Shares, NEWS, Ports & Free Zones


“The dividend of 24 US cents per share will be paid [to shareholders],” revealed DP World chairman, Sultan Ahmed Bin Sulayem, at the company’s Annual General Meeting yesterday.

All resolutions put to shareholders were passed at the meeting, including the approval of the dividend, which comprises a 10 per cent increase in the underlying dividend to 18.7 US cents per share, supplemented by a special dividend of 5.3 US cents per share reflecting the separately disclosed profit attributable to owners of the company. This results in a total dividend distribution of US$199 million.

The dividend will be paid on May 2, to shareholders on the register as at the close of business on April 10.

The shareholders also voted in favour of the re-appointment of all eight directors of the DP World Board.

During the meeting Bin Sulayem also updated shareholders on the company’s performance in first quarter of the year: “Across our global portfolio of marine terminals, DP World has seen a 9.5 per cent increase in gross volumes in the first quarter of 2012 handling 13.8 million TEU (twenty-foot equivalent units),” he said.

“This growth was driven by an excellent performance in our Asia Pacific and Indian Subcontinent region which reported 14.6 per cent growth in volumes as new capacity across the region supported strong growth across our Asia Pacific portfolio.

“Growth in Europe, Middle East and Africa region was 4.4 per cent with a good performance in the Middle East and Africa mitigating the ongoing challenging operating environment in Europe.

“The Americas and Australia region reported growth of 8.7 per cent driven by a very strong performance in the Americas region.

“Jebel Ali, in the UAE, has continued to deliver strong volume growth handling 3.2 million TEU in the first three months of the year, 8.5 per cent ahead of the same period last year,” he added.

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