Globe Telecom has announced that on November 11, 2014, its board approved a cash dividend of 18.75 pesos per share for holders of the company’s common shares. This is part of the company’s quest in proving that they value their shareholders.
The said dividend is payable to shareholders on record by November 25 and payment date will start on December 11.
The cash dividend is a reflection of the company’s annual dividend yield which they boost for this year as 4.4 percent based on the company’s closing share price of 1,685 pesos.
The Globe’s yield of 4.4 percent remains competitive in the market as firms usually yield at average of 2 percent. According to Globe Chief Finance Officer Albert de Larrazabal, with Globe’s share price of 1,685 pesos as of October 31, 2014, its year-to-date share price appreciation is about 2.7 percent, together with the 4.4 percent dividend yield, total shareholders’ get to enjoy a 7.1 percent return.
Also, Larrazabal said that in the first nine months of 2014, Globe led in the growth of the industry with a record-breaking revenue of 72.7 billion pesos. The said amount is higher by 8 percent from the previous 67.3 billion pesos it earned last year.
The statistics were a product of the robust expansion of both mobile and broadband customer bases. This coupled with a strong demand of data connectivity, and the company’s successful implementation of various relevant and trendsetting promotions during the said period.
Globe Telecom was given a citation from Finance Asia for its commitment to a strong dividend policy. Finance Asia is the leading financial publication in the Asian region.