Navios Maritime Holdings Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2009
- 74.1% increase in adjusted EBITDA to $55.7 million for the third quarter of 2009
PIRAEUS, Greece, Nov. 18 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2009.
Financial Highlights
-- Adjusted EBITDA increased by 74.1% to $55.7 million in the third quarter of 2009 from $32.0 million in the same period in 2008
-- Adjusted EBITDA increased by 25.5% to $142.4 million in the nine months ended September 30, 2009 from $113.4 million in the same period in 2008
-- Adjusted net income increased by 271.7% to $21.3 million in the third quarter of 2009 from $5.7 million in the same period in 2008.
-- Stockholders' Equity increased by 10.9% to $893.5 million at September 30, 2009 compared with $805.8 million at December 31, 2008
Dividend Policy:
The Board of Directors declared a quarterly cash dividend for the third quarter of 2009 of $0.06 per share of common stock. This dividend is payable on January 7, 2010 to stockholders of record as of December 18, 2009. The declaration and payment of any further dividend remains subject to the discretion of the Board and will depend on, among other things, Navios Holdings' cash requirements as measured by market opportunities and restrictions under its credit agreements.
- more here
http://www.navios.com/Newsroom/default.asp
