Global Ports Offers $32.9 Million Dividend as 2011 Net Rises 23%
Global Ports Investment Plc, a London-listed operator of container terminals in Russia, recommended an additional dividend payout totaling $32.9 million after profit rose 23 percent last year.
Net income rose to $147 million from $119 million in 2010, Global Ports said in a statement today. That missed the average estimate of $148 million of 11 analysts surveyed by Bloomberg. Revenue rose 31 percent to $501 million in the period.
The board recommended an additional dividend of 21 cents a global depositary receipt, based on “the excellent financial results and strong balance sheet of the group,” which raises the total dividend for last year to 39 cents a GDR, Global Ports said in a separate statement.
Global Ports GDRs advanced 2.7 percent to $15.05 at 8:47 a.m. in London, the first gain in a week.
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