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.

To contact the reporter on this story: Brad Cook in Moscow at bcook7@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.