CSAV BOARD TO PROPOSE DIVIDENDS OF €1,322 MILLION AT ANNUAL GENERAL MEETING
Santiago, April 07, 2022. The Board of Directors of Compañía Sud Americana de Vapores approved the idea of proposing the distribution of a dividend of €1,322 million (euros), approximately €0.0257599997934 (euros) per share, charged to 2021 earnings at the next Shareholders’ Meeting.
If approved at the meeting on April 29th, this dividend will be in addition to the US$450 million (US dollars) dividend already paid in October, also charged to 2021 earnings.
The company secured financing of up to US$ 550 million. As a related-party transaction, a portion requires approval at the Extraordinary Shareholders’ Meeting called for this purpose.
“We are very pleased to be able to propose a dividend of this size at the Shareholders’ Meeting. The company and its board recognizes the trust and resilience that our shareholders, who have been with us investing in this business venture for many years, have demonstrated. This dividend must be contextualized within a process of about ten years. We have held capital increases for almost US$ 3.3 billion between 2011 and 2020, and we recorded losses of more than US$ 2.2 billion between 2011 and 2017,” remarked CSAV CEO Óscar Hasbún.
The company closed 2021 with net income of US$ 3.21 billion, the best result in its history.
About CSAV: Compañía Sud Americana de Vapores S.A. is one of the main shareholders of Hapag-Lloyd AG, a German shipping company and the fifth largest container shipping line in the world.
About HLAG: Hapag-Lloyd has a fleet of 253 container ships and total hauling capacity of 1.8 million TEU. The German company has a portfolio of 129 regular services and a highly diversified, balanced logistics network with operations in 137 countries and along the main global trades. It is the largest member of THE Alliance, one of the shipping industry’s leading operating alliances.