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Globe approves cash dividend following record 1H earnings

Globe Telecom said its board approved the third quarterly distribution of cash dividends of P20.75 per share following a record financial performance in the first half of 2015.

The dividend will be paid to shareholders on record as of August 17, 2015, with payment date on September 2, 2015.

“Together with the previously declared cash dividends in the first half of the year, aggregate dividends to date is at P62.25 per share, which is consistent with our prescribed dividend policy and in line with our commitment to a sustainable and competitive dividend distribution,” Globe Chief Finance Officer Alberto De Larrazabal said.

According to Larrazabal, Globe dividend yield is estimated at 3.2% based on the closing share price of P2,572 as of July 30 while total shareholder return is estimated at 51.9%.“The company’s dividend yield is quite competitive compared to the yield of other listed companies and government securities in the country,” he noted.

Globe Telecom generated fresh record revenues of P53.8 billion in the first six months of the year, a 13% rise from P47.7 billion a year earlier, driven by robust gains from its mobile and broadband businesses amid strong customer uptake.

The company booked a net profit of P8.7 billion in the first half of the year, an impressive 27% jump from P6.8 billion a year earlier while core net profit rose 14% to P8.6 billion from P7.6 billion in the first half of 2014.

Recently, Globe Telecom earned a much-coveted recognition from the Fund Managers Association of the Philippines as Company of the Year for its remarkable financial performance based on its growth in consolidated revenues, EBITDA and core net income. The citation was based on votes gathered from FMAP member-institutions on their view of various Asian companies.

The company was also cited recently by FinanceAsia Magazine’s annual poll of Best Managed Companies for its commitment to a strong dividend policy. Last year, Globe also gained a recognition from regional publication Alpha Southeast Asia Magazine as one of the Philippine companies with the most consistent dividend policy on their 3rd annual Southeast Asia Institutional Investor Corporate Awards.

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