ASIAN Terminals Inc. (ATI) declared a P900-million cash dividend, equivalent to 45 centavos per share, following a “solid” performance last year.
The company reported a 14.6% increase in revenue to P10.6 billion in 2017 from P9.2 billion the previous year. ATI’s net income surged 31% to P2.5 billion due to robust cash flow from its port business.
“2017 was a significant period of growth for ATI with its Manila South Harbor and Batangas Port handling its highest consolidated container throughput at over 1.3 million TEUs (twenty-foot equivalent units). This represented an 8% volume growth over 2016,” ATI said in a statement.
The port operator said stockholders on record as of May 22 this year will start receiving their dividends on June 18.
“We thank our customers, the Philippine Ports Authority, the Bureau of Customs and other industry partners for all these accomplishments as we look forward to delivering even greater value-added services to port users in the years ahead, in continued partnership with our stakeholders,” ATI Chairman Andrew R. Hoad was quoted as saying in a statement.
ATI recently took delivery of two new ship-to-shore (STS) cranes, which are expected to enhance Manila South Harbor’s capability to handle more ships.
In 2017, Manila South Harbor handled over 1.1 million TEUs, setting a new record volume, nearly 6% up from 2016.
ATI operates the Manila South Harbor, the Port of Batangas, the Batangas Container Terminal, and off-dock yards in Sta. Mesa, Manila and Calamba, Laguna. — D. A. Valdez
