ATI declares P860-M cash dividend for 2016

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LISTED port operator Asian Terminals Inc. (ATI) has declared a cash dividend of P0.43 per share or a total cash dividend of P860 million, to be paid out on June 15 this year to shareholders of record on May 19.

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According to ATI, the cash dividend represents 45 percent of the company’s net income in 2016 of P1.9 billion and is the highest dividend of the company in 30 years.

“ATI’s net income would have been P2.10 billion, without the foreign exchange impact—as per accounting rules brought in since 2013—12.6 percent higher than P1.86 billion in 2015, on a like-for-like basis,” the company said in a statement over the weekend.

The company recorded a 13.5 percent revenue growth to P9.25 billion in 2016 from the previous year’s P8.15 billion.

ATI said its Manila South Harbor handled over one million TEUs (twenty-foot equivalent units) of foreign containers for the first time in a single operational year in 2016.

Passenger and international roll-on/roll-off volume at Batangas Container Terminal also reached nearly 4 million outbound passengers and a new record of over 200,000 completely-built car units and delivered nearly 160,000 TEUs as it becomes a trade facilitator in Region 4-A, the company said.

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