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CSAV shareholders approve distribution of dividends for € 1,322 million

The company’s board of directors was renewed, ratifying Francisco Pérez Mackenna as president.


Santiago, April 29, 2022 | The Ordinary Shareholders’ Meeting of Compañía Sud Americana de Vapores (CSAV) unanimously approved this morning the dividend proposal made by the Company’s board of directors, consisting of the distribution of (i) a definitive minimum mandatory dividend of US$963 million, of which US$450 million have already been paid as a provisional dividend, with US$513 million remaining to be distributed and (ii) an additional definitive dividend of €834 million, dividends that total, at today’s exchange rate, €1,322 million proposed by the board of directors to the Board.

In this way, the dividends associated with the 2021 financial year represent the distribution of 57% of the profits.

“Hand in hand with our main asset, the German shipping company Hapag-Lloyd, CSAV achieved historical results that allow us to deliver a very important dividend to our shareholders, who have also accompanied us in very difficult times”, highlighted the Chairman of the Board of Directors, Francisco Pérez Mackenna, who led the activity. He added that “we will celebrate 150 years and our commitment going forward is to act with the same resilience, vision and excellence of our long history.”

“The results that we show today, as well as the dividends, are not only the result of the contingency, but of a consistent strategy that has included restructuring, mergers and capital increases of more than US$ 3,300 million between 2011 and 2020. This has allowed us to face the ups and downs of the industry and be co-controller of one of the leading global shipping companies”, added the CEO, Óscar Hasbún.

Board Election

In the Ordinary Meeting, the members of the board of directors were elected for the next three years. Hernán Büchi, José De Gregorio, Cristóbal Eyzaguirre, Andrónico Luksic, Karen Paz, Francisco Pérez Mackenna and Felipe Ureta (independent) were elected.

In the board meeting held after the shareholders meeting, Francisco Pérez Mackenna was also ratified as chairman and Andrónico Luksic as vice chairman of the Company.

On the other hand, the Extraordinary Shareholders’ Meeting approved the terms of the financing for up to US$ 173.3 million with Banco de Chile, which is part of the financing for up to US$ 550 million managed for the payment of the mandatory minimum dividend.