Globe Telecom announced that its Board of Directors approved the declaration of the fourth quarterly cash dividend of P22 per share for holders of its common shares.
Globe will pay the dividend to shareholders on record as of November 18, 2016, with the payment date on December 2, 2016.
“The latest cash dividend payout brings total dividends for 2016 to P88 per common share. This represents a payout rate of 77% of 2015 core net income on an annualized basis,” said Globe Chief Finance Officer Rizza Maniego-Eala.
Globe sustained its revenue growth momentum in the first nine months of the year with consolidated service revenues increasing 7% to P89.1 billion from the P83.4 billion recorded in the same period of 2015.
The gains across data-related product segments spurred the robust revenue growth, despite the increased competitive intensity.
The company’s effective efforts in providing market-relevant data offers, the best of breed solutions to cater to the evolving needs of its customers, backed by the significant improvements in its wireless and wired data networks, have paved the way for its continued success.