Steamships: Final dividend K0.86

Business, Normal

THE board of Steamships Trading Co Ltd (STCL) has declared a final dividend of K0.86 per share and will be paid following approval at the company’s annual general meeting scheduled for May 25 this year.
This brings the total dividend for the year to K1.46 per share which was the same as 2008.
STCL board said the current strategic investment plans for the next three years would need a reduction in annual dividends to an estimated K1 (100 toea) per annum – interim K0.40 and final K0.60.
“This will be reviewed throughout the year in response to the company’s operating performance and capital growth needs”, STCL board advised in its report to the stock exchange last Monday.
STCL recorded profit (after tax and minority interests) of K96.6 million for the period ending December 2009, up 7% from K90.2 million in 2008, on the back of healthy performance by businesses within the Steamships group, especially hotels and the property division.