The SGB access services division of Harsco Corp. was awarded a $5.5 million contract to provide formwork equipment and services during Phase 1 construction of Dubai’s Jebel Ali Airport project.
Known as Dubai World Central, the 54-square-mile complex will include one of the world’s largest airports and a multi-modal logistics hub, Dubai Logistics City, aimed at serving the logistics requirements of the Middle East through 2050. DWC is expected to handle up to 120 million passengers and 12 million tons of cargo annually in a complex equal to Chicago’s O’Hare and London’s Heathrow combined.
The SGB division is part of Harsco’s global $1.1 billion Access Services business group, which provides rental scaffolding, formwork and other access-related services to the global non-residential construction, industrial plant maintenance, and energy markets. Harsco’s Patent division provides access services and equipment in North America.
In other company news, Harsco’s board of directors last week declared a regular quarterly cash dividend of 17 cents per share on a post-split basis, or 71 cents per share on a post-split, annualized basis. The dividend is payable May 15, to stockholders of record as of April 13.
The rate reflects the company's latest dividend increase of more than nine percent as announced in November 2006, and also reflects the previously announced two-for-one stock split which takes effect later this month. Trading will begin on a split-adjusted basis on March 27.
The dividend represents the 228th consecutive quarterly dividend paid to Harsco stockholders at the same or increased rate. The company has paid dividends every year since 1939, including dividend increases in each of the past 13 years.