UAE: DP World Holds Annual General Meeting

DP World Limited held their Annual General Meeting (AGM) in respect of the full year 2011 this morning, with all resolutions put to shareholders passed, with over 99% of the votes cast in favour.

Shareholders voted in favour of the re-appointment of all eight Directors of the DP World Board.

The resolutions also included the approval of a dividend of 24 US cents per share for the full year 2011.

Chairman Sultan Ahmed Bin Sulayem said;

“On behalf of the Board of DP World I am pleased to announce that our shareholders have approved the dividend in respect of the full year 2011. The dividend of 24 US cents per share will be paid on 2 May 2012.”

During the meeting Chairman, Sultan Ahmed Bin Sulayem updated shareholders on DP World’s performance in first quarter of the year4 saying;

“Across our global portfolio of marine terminals, DP World has seen a 9.5% increase in gross volumes in the first quarter of 2012 handling 13.8 million TEU (twenty-foot equivalent units).

“This growth was driven by an excellent performance in our Asia Pacific and Indian Subcontinent region which reported 14.6% growth in volumes as new capacity across the region supported strong growth across our Asia Pacific portfolio. Growth in Europe, Middle East and Africa region was 4.4% with a good performance in the Middle East and Africa mitigating the ongoing challenging operating environment in Europe. The Americas and Australia region reported growth of 8.7% driven by a very strong performance in the Americas region.”

“Jebel Ali, UAE has continued to deliver strong volume growth handling 3.2 million TEU in the first three months of the year, 8.5% ahead of the same period last year.”

[mappress]

Dredging Today Staff, May 1, 2012