10 May 2013

Shares in New Territory

"The Clarksons share price is now in new territory," declared Chairman Bob Benton at today's Annual Meeting.  The price has  doubled over the past five years, increasing from 796p in May 2008 to 1650p today, in sharp contrast to the Baltic Dry Index in a period of global uncertainty and repressed shipping markets. Revenue for the past year totalled £176.2m and profits before tax were £20.4m, giving shareholders a total dividend for the year of 51p, the dividend having increased every year for the past 10 years.  

This was Bob Benton's last AGM before he steps down as chairman in August.  The board and the company were possessed of "awesome talent", he said, and it had been an enormous privilege and pleasure to serve what he described as "a very intelligent company and also a company of great integrity".