STOCKHOLDERS of Globe Telecom Inc. are in for a P22 dividend per common share, as its board of directors approved a P2.9-billion payout for shareholders on record as of May 19.
Payment date is on June 3, Globe acting CFO Rizza Maniego-Eala said on Friday.
“This second-quarter dividend payout totals P2.9 billion. Including the dividend payout in March, the annualized amount will translate to around 77 percent of last year’s core net income,” she said.
Eala said the P22-per-share dividend payment represents a 4.1-percent dividend yield based on the closing share price of P2,170 as of May 5.
The board also approved the declaration of the second semiannual cash dividend for holders of its nonvoting preferred shares payable on August 22 for shareholders on record as of August 10.
The amount of the cash dividend shall be at a fixed rate of 5.2006 percent per share on a 30-over-360-day basis for the six-month dividend period. Globe closed the first three months of 2016 with a net income of P4.3 billion, still up by 3 percent against the P4.2 billion reported in the same period of 2015.
During the same comparative periods, consolidated-service revenues grew by 14 percent to P29.9 billion, thanks to the sustained robust-revenue growth driven by gains across data-related product segments and the continued subscriber growth for both mobile and home broadband.
Operating expenses and subsidy grew by a slower 11 percent year-on-year to P16.8 billion from P15.2 billion last year, to support the growing subscriber base and the continued expansion of its data network.
This led to a core net income of P4.2 billion.