Polaris Announce 12-Month Profit of $1.22M
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.”
