Summary by Futu AI
Pacific Shipping recorded a basic profit of $119,200,000, a net profit of $109,400,000 and a profit before tax depreciation and amortization of $347,200,000 in 2023. China's post-pandemic economic recovery and increased demand for dry bulk shipments have led to a decline in market freight rents, China's post-pandemic economic recovery and increased demand for goods have kept dry bulk demand strong. The company has maintained a strong financial position and has committed $549,200,000 in available liquidity and continues to invest in fleet expansion. THE BOARD PROPOSES TO DISTRIBUTE A FINAL BASIC DIVIDEND OF HK$1.6 CENTS PER SHARE AND AN ADDITIONAL FINAL SPECIAL DIVIDEND OF HK$4.1 CENTS PER SHARE. THE TOTAL DIVIDEND REPRESENTS 75% OF NET PROFIT FOR THE FULL YEAR. Pacific Shipping remains optimistic about the long-term potential of the dry bulk cargo market and is prepared for the low-carbon transition of the future.