ATI declares cash dividend of P820 M

MANILA, Philippines – Listed port operator Asian Terminals Inc. (ATI) has declared a total cash dividend of P820 million or 41 cents per share even as its net earnings declined last year amid lower revenues and foreign exchange impact on operations.

The cash dividend announced by ATI chairman Rashid Abdulla during the company’s annual stockholders meeting last week, is the highest to be declared in three decades and represents 46 percent of the company’s P1.77 billion net income last year.

The dividends would be paid on June 15 to stockholders on record as of May 20, 2016.

 ATI’s profits last year went down by seven percent compared to P1.9 billion in 2014.

Without the foreign exchange impact, the port operator’s net income would have risen slightly to P1.86 billion last year from P1.84 billion in 2014 on a like-for-like basis.

The company saw its revenues falling slightly to P8.15 billion from P8.24 billion in 2014.

Revenues from South Harbor international containerized cargo were lower in as container volume slipped 1.3 percent year-on-year.

Revenues generated from South Harbor international non-containerized cargo, Batangas Container Terminal, and Port of Batangas meanwhile, posted respective increases of 14.7 percent, 57.5 percent, and 15.9 percent, amid growth in volume handled.

While the company’s total revenues slid, its costs and expenses posted a 3.9 percent uptick to P3.74 billion last year from P3.60 billion in 2014.

Abdulla said the company’s 2015 financial performance shows the management’s ability to manage costs even during a challenging period.

“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 said.

ATI’s investment program last year delivered five new Rubber-Tired Gantry (RTG) Cranes which brought South Harbor’s RTGs to 23 units, a 50 percent growth in fleet size since 2012.

Additional empty container handlers were likewise deployed for greater operational flexibility.

Last year, the company also implemented the Terminal Appointment Booking System which has facilitated faster flow of goods from port to markets.

Aside from the Manila South Harbor and Port of Batangas, ATI operates the Port of General Santos, and off-dock container yards in Sta. Mesa, Manila and Calamba City, Laguna.