Port of Tallinn set to boost dividends to EUR 39.4m
Port of Tallinn (Tallinna Sadam) plans to increase its dividend payments to the state budget to EUR 39.4 million, up as much as 4.1 times from last year’s numbers, Regnum reports citing an unnamed source in the company.
Tallinna Sadam posted for the first half of the year net income of EUR 15 million.
Tallinna Sadam Council decided at a meeting held on Oct. 11, to announce vacancies for appointment to the company’s Board. The open competition will be conducted according to the coalition agreement of the Estonian government reached in April 2011.
Currently, the Board of the Port of Tallinn consists of two members, Ain Kaljurand and Allan Kiel, appointed to their posts of November 7, 2009.
AS Tallinna Sadam is a stevedoring company of the Port of Tallinn. The company was incorporated in 1996. The company’s sole stockholder is the Republic of Estonia. Port of Tallinn ranks third among largest Baltic seaports, next to St. Petersburg and Primorsk, on the Baltic Sea. The Port comprises five harbors: Muuga, Old City Harbor, Paljassaare, Paldiski South and Saaremaa. In 2010, the port’s cargo throughput totaled 36.65 million tons.