APM Terminals recommends $25.8m dividends for 2018
Feb 27, 2019 6:23 PM
APM Terminals Bahrain the exclusive operator of the kingdom s Khalifa Bin Salman Port said the board of directors have proposed distribution of dividends worth BD9.8 million ( 25.8 million) for the year...
APM Terminals Bahrain, the exclusive operator of the kingdom's Khalifa Bin Salman Port, said the board of directors have proposed distribution of dividends worth BD9.8 million ($25.8 million) for the year ended December 31, 2018.
The proposed dividend is 109 per cent of the company’s capital, (approximately 109 fils per share). This achieves a dividend yield of approximately 16.5 per cent on the initial offer price of 660 fils, said a statement from APM Terminals Bahrain.
The announcement came as the newly convened board of the directors for APM Terminals Bahrain met formally for the first time this week.
The new board members are David Skov (Chairman); Fawzi Ahmed Kanoo (Vice Chairman); Soren Sjostrand Jakobsen (Executive Director); Jesper Kjaedegaard (Non-executive director); Mohamed bin Ebrahim Juma Alshoorgi and Nadhem Saleh Al Saleh (both Independent directors).
Chairing the inaugural board meeting, Skov said: "This is a proud moment in the timeline of APM Terminals Bahrain and Khalifa Bin Salman Port. Our strong financial performance coupled with recommendation of distribution of a dividend and last years highly successful IPO, is testament to the progress we have made in recent years."
"Our new board brings together some of the most experienced and highly respected professionals from across the industry and region, to help lead and guide the continued business growth and development," stated Skov.
"We look forward to continued success and deliver the very best experience for our customers and business partners with the support of all our employees and shareholders," he added.-TradeArabia News Service