Port of Tallinn made a 31.2 mln EUR dividend payment to the state budget
The state-owned company Port of Tallinn says it transferred a dividend payment in the sum of 31.2 mln EUR to the Estonian state budget on December 1; together with the income tax the total sum of the payment will be approximately 39 mln EUR.
“According to the decision of Port of Tallinn’s general assembly this year’s dividend payment was 31,192 mln EUR to which a sum of 7,798 mln EUR of income tax will be added,” said Marko Raid, the temporary Chairman of Port of Tallinn’s Management Board. “The total sum of Port of Tallinn’s dividend payments this decade has exceeded 152 mln EUR and income tax payments 40 mln EUR,” added Raid.
Port of Tallinn’s operating costs in 2014 amounted to a record-breaking numbers of 110.8 mln EUR of operating revenues and 52.7 mln EUR of operating profit. Company’s net profit was 38.3 mln EUR resulting 1.3 mln EUR less than in 2013. The decrease was caused by the increase of income tax expense that was related to the previous record-breaking dividend payment of 42 mln EUR to the state budget.
Port of Tallinn is the biggest port authority in Estonia including both, cargo and passenger harbours. The state-owned company consists of five constituent harbours: Old City Harbour, Muuga Harbour, Paldiski South Harbour, Paljassaare Harbour and Saaremaa Harbour.
Port of Tallinn is also the owner of icebreaker Botnica that is used by the Estonian Maritime Administration during the icebreaking season under a service agreement. Starting from October 2016, Port of Tallinn will start operating ferry traffic between Estonia’s major islands and the mainland.