Globe Telecom said its Board of Directors approved the declaration of the second quarterly distribution of cash dividend of P22.75 per share for holders of its common shares. The dividend will be paid to shareholders on record as of May 23, 2017, with payment date on June 7, 2017.
“The board approval of the second quarter cash dividend, totaling about P3 billion, is consistent with the company’s commitment in creating shareholder value,” Globe Chief Finance Officer Rizza Maniego-Eala said.
According to Eala, the company’s board of directors also approved the declaration of the second semi-annual cash dividend for holders of its non-voting preferred shares on record as of August 10, 2017. The amount of the cash dividend shall be at a fixed rate of 5.2006% per annum based on the offer price of ₱500.00 per share for the six-month dividend period.
Approval of the second quarter cash dividend follows a fresh record level consolidated service revenues of P31.1 billion in the first three months of the year, 4% higher than same period last year’s P30.0 billion, and P62 million higher than prior quarter’s all-time high revenues.
The sustained solid revenue growth across all data-related segments, as well as the continued subscriber expansion for both mobile and broadband, led to the company’s strong performance in the January to March period. The company’s game-changing initiatives, including a digital lifestyle play, innovative offers, and content partnerships with iconic global brands, were also instrumental in this. Robust 3G and 4G networks nationwide backed these initiatives.