Polaris Announce 12-Month Profit of $1.22M

September 5, 2017

Polaris Holding Company Ltd., parent to Stevedoring Services Limited reported its financial results for the year ended March 31, 2017.

“The Company announced another strong year, with a 12-month profit of $1.22 million or $1.03 per share,” the company said.

“At the end of June 2017, Polaris’ dividends were again uplifted reflecting the Company’s stability. The current dividend rate is $0.08 per quarter per share or $0.32 per share per annum. In addition, the Company extinguished its long-term loan in fiscal 2017, with year-end financials reflecting it is now debt free.”

“Polaris’ stock last traded on the Bermuda Stock Exchange at $5.00 per share, a 25% premium from the value 12-months earlier.”

Chairman Cheryl Hayward-Chew noted that, “In just two years Polaris reined in debt and cut spending; trimmed fat and built bridges, strengthening relations with staff, customers and other stakeholders.

“Polaris invested in infrastructure and training, and through mutual respect, positive reinforcement, and a creative forward-looking focus, a Company that a handful of years ago was ridiculed and written-off, has now been reinvented.”

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