ATI declares P900-M cash dividend on solid 2017 results
April 30, 2018
Listed port operator Asian Terminals Inc. (ATI) declared a total cash dividend of Php900 million, or 45 cents per share, on the back of solid operational and financial performance in 2017.
The results were announced during the company’s annual stockholders meeting held in Manila, recently. The cash dividends will be paid out on June 18, 2018 to stockholders on record as of May 22, 2018.
In 2017, ATI’s top-line breached the double-digit mark for the first time with revenues reaching Php10.6 billion, or 14.6% higher than the Php9.2 billion it posted in 2016. Robust cash flow from its ports business, meanwhile, drove ATI’s net income to Php2.5 billion, up 30.7% from the previous year’s Php1.9 billion.
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 millionteus (twenty-foot equivalent units). This represented an 8% volume growth over 2016.
Domestic passengers and international roll-on/roll-off volume at Batangas Port also remained strong during the same period, peaking to nearly 4 million out-bound passengers and close to 200,000 completely-built cars, which comprised the majority of last year’s car sales nationwide.
“ATI’s strong performance reaffirms our commitment to balanced growth and lasting shareholder value. More importantly, we achieved these record milestones while operating safely and efficiently, consistent with global standards,” ATI chairman Andrew Hoad said.
“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,” Hoad added.
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