MANILA, May 13 (PNA) — Phoenix Petroleum Philippines has declared its dividends for preferred shares at Php 2.06, a rate of 8.25 percent.
“We would like to inform the Exchange that the Company’s Board has approved the declaration of dividend for its Preferred Shares computed at the fixed rate of 8.25% per annum,” the company said in a disclosure with the Philippine Stock Exchange (PSE) Wednesday.
Phoenix said the stockholders, who have made an investment until May 26, will be entitled to the dividend of Php 2.06 per share.
It added the payment date for the shareholders will be on June 22.
Phoenix Petroleum disclosed on Monday that its consolidated net income for 2014 went up by 9 percent at Php 230 million versus its performance in 2013.
Phoenix noted it was driven by its sales volume growth that has gone up by 20 percent due to its retail segment.
The oil company added its retail station network grew from 418 stations in 2014 to 435 stations on March 31, 2015.
Its stations are mostly in Mindanao with 222 stations; it also has 152 stations in Luzon and 61 stations in Visayas.
Phoenix Petroleum was the biggest independent oil player for 2014, holding a market share of 4.1 percent, according to the Department of Energy (DOE). (PNA)