Hutchison Ports PPC supports the Panama solidarity program carried out by the Government to fight the COVID -19 pandemic
Hutchison Ports PPC on behalf of the thousands of Panamanian employees that make up its workforce considers it necessary to provide substantial support to the actions and efforts that our heroes in white are doing in this time of crisis by donating medical equipment that would facilitate the care of those affected by the virus throughout the country.
On April 28, the company made a donation to help strengthen the Panamanian health system, which included 10 electric beds for hospital use to the National Institute of Physical Medicine and Rehabilitation (INMFRE ). This medical care centre has been adapted by the Ministry of Health (MINSA) to provide the necessary hospital care to patients suffering from COVID -19.
Jared Zerbe, CEO of PPC delivers the hospital beds together with a group of employees from both ports.
Aware that we must all be in solidarity and work in UNITY as we profess in our corporate values, we will continue to support the efforts and actions of The Ministry of Health and the Government, making other important contributions to the Panamanian health system and thus contributing medical supplies that are needed for people in hospitals, fighting for their recovery.
At Hutchison Ports PPC, we continue to apply meticulously the hygiene and protection protocols, complying with all the recommendations of the authorities for the containment and mitigation of COVID-19 and at the same time making efforts to continue working from our port terminals, supporting from our sector with the supply of essential goods that Panamanian homes and health systems need so much.
PPC Solidarity Squad joins the childhood of Kuna Nega and Quebrada Bonita
As every year our group of volunteers meets at these times of the year to bring joy and hope to the children of the community of Kuna Nega and the Quebrada Bonita School located in the province of Colon.
More than 100 children enjoyed entertainment activities and know through the group of volunteers the values that represent Christmas.
With activities such as these, we reaffirm our commitment to children, their education, health and social welfare.
Hutchison Ports PPC pay $30 million for 2019 dividends
Panama, January 7, 2020.- Hutchison Ports PPC, a company responsible for managing the ports of Balboa and Cristóbal, will make a payment to the Panamanian State for dividends corresponding to the year 2019.
Jared Zerbe, Executive President of Hutchison Ports PPC, explained that this dividend payment is a reflection of the opportunity that the earnings from reinvestment process has given, in recent years, to pay dividends to its shareholders as a result of a strategic approach and agreement with the State.
In 2015, after significant investments, the optimal conditions of performance were met, which led to the Board of Directors deciding to declare and pay dividends to its shareholders in the amount of USD 10 million, of which USD 1 million was allocated to the State for its 10% shareholding. Under similar conditions, at a meeting of the Board of Directors held in November 2017, it was decided to declare and pay additional dividends in the amount of USD 20 million, of which USD 2 million corresponded to the State. In 2018, a new payment of USD 20 million was made by consensus of the Board of Directors, of which USD 2 million also corresponded to the Panamanian State. Based on the 2019 scenario, dividends of USD 30 million will be paid, of which USD 3 million correspond to the Panamanian State.
According to Panamanian laws, the Panamanian State, which in addition to being the owner of the concession is a shareholder of 10% of the company, receives a fixed fee or payment from each port under concession for each container that is mobilized in those ports.
“Even with the unfavorable trend of the regional port system, we have continued to contribute large sums of money to the State, being the main contributor for the rate of movement of cargo in national ports, and this has been possible given the financial policy adopted as part of the most convenient business strategy ”, concluded Jared Zerbe Executive President of Hutchison Ports PPC.
Hutchison Ports PPC has made investments for more than USD 1.5 billion to improve the port of Balboa, which today is listed as a mega port, as well as in the port of Cristóbal to expand it, key decisions in the growth of the terminals, and necessary to meet the demands of world maritime trade.
After more than two decades administering the port of Balboa and Cristóbal, Hutchison Ports PPC has contributed more than USD 415 million to the Panamanian State as a fee for each container that is mobilized in those ports. Hutchison Ports PPC contributes monthly more than USD 2.6 million in salaries and USD 1.3 million in social security in favor of around 1,500 employees. It also generates around 25,000 indirect jobs, among hundreds of small, medium and large companies, which serve as suppliers of products and services for both ports.
Hutchison Ports PPC has kept its position in the Panamanian port industry with strategy and tenacity, reaffirming its commitment to increasingly emphasize the strength of the Panama port industry in the eyes of the world and open to cooperate in any requested explanation, providing necessary information comfortably with established procedures.