From left: Rizza Maniego-Eala, Chief Finance Officer; Albert de Larrazabal, Chief Commercial Officer; Ernest Cu, President & CEO; Daniel Horan, Senior Advisor for Consumer Business; Gil Genio, Chief Information and Technology Officer; and Atty. Froilan Castelo, Globe General Counsel
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. The dividend will be paid to shareholders on record as of November 18, 2016, with payment date on December 2, 2016.
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“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 robust revenue growth was spurred by the gains across data-related product segments, despite the increased competitive intensity.
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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.