Wilson Sons to pay 50% dividend

[RIO DE JANEIRO] Wilson Sons, the Brazilian ports and tugboat operator backed by Aberdeen Asset Management, expects to give about half of its profit back to shareholders after investing more than US$1 billion to expand operations.

Founded in 1837 by Scottish entrepreneurs to trade products including coal and whisky, the firm expects to sustain the 50 per cent ratio of dividends as it looks to expand along Brazil's coastline, chief financial officer Felipe Gutterres said. Wilson Sons' investments are delivering profit growth after the company spent more than US$1 billion from 2007 through late 2013 to add shipyard capacity and port space, he said. "There is a robust potential for dividend increases," Mr Gutterres said on Wednesday. "It's sustainable."

Wilson Sons in March agreed to pay US$27 million in dividends after reporting record earnings before interest, taxes, depreciation and amortisation for 2013. Shares of the firm, which also operates container terminals, shipyards and vessels for the oil and natural gas industry in Brazil, last month reached the highest level since its 2007 listing.