Asian Terminals Inc. (ATI) declared a total cash dividend of P820 million for 2015, citing its competitive performance during the year.
At the company’s annual stockholders meeting over the weekend, ATI Chairman Rashid Abdulla announced a cash dividend of 41 centavos per share or a total of P820 million.
The cash dividend represents 46 percent of the company’s net income of P1.8 billion in 2015 and is ATI’s highest declaration in three decades.
ATI’s net income would have been P1.9 billion, without the foreign exchange impact—as per accounting rules brought in since 2013—up by 0.8 percent from P1.8 billion in 2014 on a like-for-like basis.
ATI’s 2015 total revenues stood at P8.1 billion, marginally lower than 2014 by 1.1 percent, but the company significantly maintained its progress compared to 2013, Abdulla said, when revenues only reached a more modest P6.5 billion.
“Last year’s achievements are testament to the ability of ATI’s management team to manage costs prudently while maintaining the levels of service expected of us by our customers during a challenging period,” Adbulla said.
“This is particularly encouraging because this means that we have been able to avoid a backward step in earnings while continuing the wide scale investment and optimization program that has been in full swing since 2013 as we ensure service reliability and sustainability in the long-term,” he added.
ATI’s investment program last year delivered five new Rubber-Tired Gantry (RTG) cranes, effectively increasing South Harbor’s RTGs to 23 units for a 50 percent growth in fleet size since 2012. Additional empty container handlers were deployed for greater operational flexibility.
Major technology innovations also came on stream, led by the government’s Terminal Appointment Booking System (TABS), which has fast-tracked the flow of goods from port to markets.
ATI handled a consolidated throughput in excess of one million TEUs (twenty-foot equivalent container units), more than a million tons of general cargo, and nearly 3.5 million outbound passengers in 2015. During the same period, Batangas Port delivered over 140,000 imported car units, comprising the majority of car sales nationwide.