HHLA Annual General Meeting approves dividend increase

 Approximately 1,500 shareholders and guests attended the second Annual General Meeting of Hamburger Hafen und Logistik Aktiengesellschaft (HHLA), since the Company’s IPO in November 2007. The meeting was held at the CCH Congress Center Hamburg on Thursday 4 June 2009. 79.6 percent of the share capital was represented.
   During his speech Klaus-Dieter Peters, HHLA CEO, stated: “We are countering the current challenges with a comprehensive programme of measures, but are keeping our eye on medium and long-term opportunities for expansion. The profitable growth course of the past years and the excellent result for the financial year 2008 provide a solid basis for this double challenge. As the key figures so impressively confirm, HHLA has continued with its consistent profitable organic growth. This has also put us in a position, within the framework of our result-oriented dividend policy, to recommend increasing the dividend for the stock exchange quoted shares of the Port Logistics subgroup.”
  The Annual General Meeting passed the resolutions proposed by the Supervisory Board and Executive Board with majorities of over 97 percent.
  The Annual General Meeting approved the proposal by the Executive Board and Supervisory Board, to distribute a dividend of 1.00 euro per Class A share for the Port Logistics subgroup traded on the stock exchange and entitled to receive dividend payments, amounting in total to 70.0 million euros (previous year: 59.4), representing an increase of 17.6 percent in comparison with the previous year’s figure of 0.85 euro.
  1.00 euro is again being distributed for the non-stock exchange listed Class S share of the Real Estate subgroup, amounting in total to 2.7 million euros.
  During the Annual General Meeting, two new members were elected to replace the resigned Supervisory Board members Gunther Bonz and Rolf Kirchfeld: Carsten Frigge, State Secretary of the Hamburg Ministry of
  Economic and Labour Affairs, and Jörg Wohlers, CFO of Hamburger Sparkasse AG now belong to the body.
  (Source: Transport Weekly)