• Globe oks cash dividend for preferred shares


    Globe Telecom Inc. said on Tuesday that its board approved the declaration of cash dividend for holders of its preferred shares.

    The company said that during its meeting held on November 8, the board approved A cash dividend for holders of its preferred shares.

    In a statement, Ernest Cu, president and chief executive office of Globe, said that, “The amount of the cash dividend will be based on the average 30-day PDST-F [formerly Mart1]as computed by the Philippine Dealing and Exchange Corp. [PDEX] plus 2 percent.”

    PDST-F is one of the treasury reference rates published by PDEX.

    Globe said that record date is on November 22 this year, while payment date has been set on December 8.

    The telecommunications provider reported that its core net profit in the first nine months of the year increased by 9 percent to P9.5 billion, underpinned by robust revenues, which reached a total P67.3 billion, or increase by 10 percent from the P61.3 billion recorded in the same period last year.

    Globe counts Philippine conglomerate Ayala Corp. and Singapore Telecom as its major shareholders.


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