By Azer N. Parrocha
MANILA, Feb. 10 (PNA) — Ayala-led Globe Telecom on Tuesday said it has approved the distribution of a cash dividend of Php 20.75 per common share.
The telco giant made the revelation following the company’s record-breaking financial performance in 2014. The dividend is payable to shareholders on record as of Feb 18, while payment date has been set on March 4.
Globe said that in an annualized basis, this represents an 11 percent improvement from the last quarterly dividends of Php 18.75 per common share.
Alberto de Larrazabal, Globe Chief Finance Officer said in a statement that the company’s dividend yield remains competitive when compared against those of government securities and other listed companies.
Larrazabal also said the company’s commitment to maintain its dividend payout policy of 75 percent to 90 percent of prior year’s core net profit.
Last year, Globe Telecom booked a core net profit growth of 25 percent to a record level of Php 14.5 billion, driven by the solid performance of its business segments.
This was amid sustained demand for data connectivity across the mobile, broadband and fixed line data businesses.
Consolidated service revenues reached a new high of Php 99 billion, besting the previous mark of Php 90.5 billion in 2013.
On another note, the telco also last year received a citation from Finance Asia, a leading financial publication in the region, for its commitment to a strong dividend policy.
This was based on a poll conducted among investors and analysts across the region to determine Asia’s top companies.
It was also cited as one of the top companies in Asia by institutional investment publication Alpha Southeast Asia, where the telco was specifically recognized for having the most consistent dividend policy. (PNA)