Globe Telecom on Friday said that it was again recognized as one of the region’s top companies for having the most consistent dividend policy. The recognition was given by institutional investment publication Alpha Southeast Asia.
“We are honored by the recognition bestowed on Globe as one of the top companies in the region, specifically in relation to our dividend policy,” said Ernest Cu, president and chief executive officer of Globe.
“This will further motivate us in increasing shareholder value by delivering a strong financial performance,” he added.
The recognition will be given during the 3rd Annual Southeast Asia Institutional Investor Corporate Awards ceremony to be held next month.
The citation is based on an annual poll conducted by Alpha Southeast Asia, the only institutional investment publication focused on Southeast Asia.
“With investment interest in the Philippines at an all-time high, the country is firmly back on the screens of investors both domestic and foreign,” said Siddiq Bazarwala, publisher of Alpha Southeast Asia.
“As a leading telecoms provider with world-class corporate governance standards, Globe Telecom has consistently raised the bar for investor relations and shareholder management. Globe will no doubt remain an investor favorite for many more years to come,” Bazarwala added.
The survey involved close to 500 investors and analysts across the region, and from the United States and Europe. The participants include fund managers with investments interests in Southeast Asia, large institutional investors, insurance companies, pension funds, funds of hedge funds, private banks, equity and fixed-income brokers, as well as buy and sell analysts.
In February this year, Globe’s board approved its first semi-annual cash dividend payment of about P4.4 billion, representing 86 percent of its 2012 core net profit on an annualized basis.
Last year, Globe paid dividends totaling P8.6 billion, representing a pay-out rate of 86 percent of its 2011 core net income. Such dividend payout is consistent with its dividend pay-out policy of distributing 75 percent to 90 percent of prior year’s core net income.
Alpha Southeast Asia, with main offices in Hong Kong, is a monthly magazine primarily written for institutional investors, asset and fund management companies in Hong Kong, Singapore, other parts of Asia, US, Europe and the Middle East.
The magazine also has a strong following among the region’s largest local corporations concerned about liquidity management, cash flow maximization and financial supply chain optimization.
Globe was also cited by the publication last year for the same category.
Rosalie C. Periabras