Piraeus Port to pay 0.424 euro per share dividend to shareholders

A Piraeus Port Authority SA general shareholders' meeting on Friday approved a board plan to pay a 0.424 euro per share dividend to shareholders, up 148 pct from the previous year.

The shareholders' meeting also approved the company's annual financial report, which showed that turnover rose 19.2 pct to 132.9 million euros in 2018, pre-tax profits soaring 100 pct to 42.3 million euros and net profits soaring 147 pct to 27.9 million euros in 2018. Cash reserves amounted to 80.9 million euros in 2018 from 61.9 million in 2017. Piraeus Port Authority will pay 4.8 million euros to the Greek state as an exchange for the concession contract.

Yu Zenggang, chairman of Piraeus Port Authority SA, addressing the meeting said: "2018 was the most successful year for profits. The port's successful financial results positively contribute to the Greek economy, along with all investments included in the Master Plan that will create growth and new job positions".