Clarkson increases its 2015 full year dividend by 3%

DividendMax Ltd.

Clarkson increases its 2015 full year dividend by 3%

Summary

Robust performance in challenging markets

Integration now successfully complete following the acquisition of RS Platou ASA in February 2015

Dividend increased by 3% to 62p; unbroken progressive dividend increases since 2002

Forward order book for the enlarged group for 2016 of US$151m

Solid balance sheet, including £91.6m of net funds

Andi Case, Chief executive, commented:

"In what has been an incredibly challenging year across our markets, Clarksons has delivered a robust performance. Offshore has experienced the most challenging environment, whereas significant movements in commodity prices have changed trade flows, which in turn has created both positive and negative impacts to shipping demand as the volatility has played out. Throughout, our 'best in class' service offer, underpinned by unique breadth, global reach and the depth of expertise, has enabled us to not only be at the forefront of activity in the markets, but benefit from a flight to quality as operators look to work with the most experienced and creative solution providers in the industry. 

"Once again, seaborne trade grew in 2015. However, the primary concern remains the oversupply of tonnage in a number of the shipping markets, combined with the additional challenge of debt and equity funding increasingly witnessed across the global shipping industry. The geo-political and macro-economic environment remains very uncertain and, as such, we do not anticipate any changes to our markets in the near term. However our business model has proven to be robust and the strategic advances we have made in 2015, coupled with our strong balance sheet, ensure that we are 'fit for the future'. As we continue to see building blocks for the creation of healthier shipping markets, we feel best placed to capitalise on new opportunities."

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