The board of Globe Telecom has approved the distribution of a cash dividend of P20.75 per common share following the company’s record-breaking financial performance in 2014.
The company said that the dividend is payable to shareholders on record as of February 18, while the payment date has been set on March 4.
On an annualized basis, this latest cash dividend declaration represents an 11-percent improvement from the last quarterly dividend payout of P18.75 per common share.
The company’s dividend yield remains competitive when compared against those of government securities and other listed companies on the local bourse, Globe chief finance officer Alberto de Larrazabal said.
Larrazabal added that the telecommunications provider’s commitment to maintain its dividend payout policy of 75 percent to 90 percent of the prior year’s core net profit is in line with its commitment to a sustainable and competitive dividend distribution policy.
Globe reported that its net profit in 2014 grew by 170 percent to a record P13.4 billion, driven by the solid performance of its mobile, broadband, and fixed-line data businesses.
Total mobile subscriber base stood at 44 million as of end-December 2014, up by a solid 14 percent from the 38.5 million a year earlier.
Consolidated service revenues reached a new high of P99 billion, besting the previous mark of P90.5 billion in 2013.
Globe ended the year with nearly 2.8 million broadband subscribers, with strong growth seen across fixed broadband, wireless broadband and long-term evolution (LTE) solutions of 16 percent, 42 percent and 377 percent, respectively.