HAMBURG (dpa-AFX) - The Supervisory Board of Hamburger Hafen und Logistik AG (HHULF.PK, HHULY.PK) or HHLA appointed Rüdiger Grube as its new Chairman. Grube thus succeeds Prof. Dr. Peer Witten, who has retired from the Supervisory Board. The Supervisory Board has appointed Berthold Bose, Chairman of ver.di district Hamburg as its Vice Chairman.
Grube began his career at Messerschmitt-Bölkow-Blohm GmbH. Subsequently, he moved to Deutsche Airbus GmbH. From 1992 to 1996, Dr. Grube held managerial positions of responsibility at Deutsche Aerospace AG, which was renamed Daimler-Benz Aerospace AG in 1995. Aside from a short interlude, Dr. Grube remained at the Daimler Group until 2009. He initially held the position of Senior Vice President and Head of Group Strategy. In 2001, he was appointed to the Executive Board, where he was responsible for Group Development, Mergers & Acquisitions, Information Technology and Equity Holdings. From 2004 onwards, he was also responsible for the Group's North Asia activities.
The Annual General Meeting of Hamburger Hafen und Logistik AG resolved to pay a dividend of 0.59 euros per listed Class A share. HHLA is therefore distributing a total of 41.3 million euros to the shareholders of the Port Logistics subgroup for 2016, just as in 2015. This corresponds to a dividend payout ratio equal to 65 percent of the profit after tax and minority interests. The figure is once again at the upper end of the dividend payout range of 50 to 70 percent, which remains a cornerstone of the company's dividend policy. The dividend proposal made by the Executive Board and the Supervisory Board was ratified by 99.97 percent of the votes cast.
The Annual General Meeting resolved to distribute EUR 2.00 per Class S share for the unlisted Real Estate subgroup. All of the Class S shares are held by the Free and Hanseatic City of Hamburg. HHLA is therefore distributing a combined total of 46.7 million euros to the shareholders of the two subgroups for the last financial year.
The shareholders formally approved the actions of both the HHLA Executive Board and the Supervisory Board during the 2016 financial year with 99.95 percent and 98.02 percent of the votes cast, respectively.
Copyright RTT News/dpa-AFX