HAMBURG (dpa-AFX) - German logistics firm Hamburger Hafen und Logistik AG (HHULF.PK, HHULY.PK), or HHLA said that its shareholders resolved to distribute a dividend of EUR 0.59 per listed Class A share. The shareholders formally approved the actions of both the HHLA Executive Board and the Supervisory Board during the 2015 financial year with 99.93 percent and 96.93 percent of the votes cast, respectively.
HHLA is distributing a total of EUR 41.3 million to the shareholders of the Port Logistics subgroup - an increase of 13.5 percent on the previous year. This corresponds to a dividend payout ratio of approximately 70 percent. The dividend proposal made by the Executive Board and the Supervisory Board was ratified by 99.98 percent of the votes cast.
At the Annual General Meeting, the shareholders endorsed the proposal made by the Executive Board and the Supervisory Board and today agreed to a dividend of EUR 0.59 per listed Class A share for the 2015 financial year. The dividend for the Port Logistics subgroup is therefore EUR 0.07 higher than the previous year's figure of EUR 0.52 per Class A share. This represents an increase of 13.5 percent. The dividend payout ratio is equivalent to 70 percent of the profit after tax and minority interests. Distributing a large proportion - between 50 and 70 percent - of distributable net profit to shareholders remains a cornerstone of the company's dividend policy. HHLA is distributing a total of EUR 41.3 million to holders of its dividend- entitled Class A shares.
The Annual General Meeting resolved to distribute EUR 1.75 per Class S share for the unlisted Real Estate subgroup. This is equivalent to a dividend payout ratio of 61 percent and a total of EUR 4.7 million - an increase of almost 17 percent on the previous year. All of the Class S shares are held by the Free and Hanseatic City of Hamburg. HHLA is distributing a total of EUR 46 million to the shareholders of its two subgroups.
Copyright RTT News/dpa-AFX