Santos Brasil announces payment of complementary dividends
01/02/2012
Santos Brasil's Board of Directors approved the payment of
complementary dividends amounting to R$24.519 million, equivalent
to R$0.037102090 per common and preferred share and R$0.185510450
per Unit, each Unit comprising one common share and four preferred
shares, giving a total of R$187,387,335.33 for fiscal year
2011.
The Company has invested heavily in structural and logistic
projects over the last 14 years and has now reached cash
maturity."Brazil's economic growth scenario has also played a major
role in our continuous positive results throughout the year and in
the Company's decision to increase dividend payments," declared
Marcos Tourinho, Santos Brasil's Investor Relations Officer.
In December 2011, Standard &
Poor's raised the Company's long-term corporate credit rating
from ´brAA-´ to ´brAA´, thanks to its recent positive cash flow
trajectory together with its investment capacity and gradual
financial deleveraging.
