GMA Network’s board has approved the declaration of cash dividends totaling P3.548 billion, or P0.73 per share, the company said in a statement on Tuesday.
GMA Network Chairman and CEO Felipe Gozon said that the company’s declaration of cash dividends – which will be paid on May 15, 2017 to shareholders of record as of April 20, 2017 – reaffirms its commitment of providing the best returns to its shareholders.
“Since our IPO launch in 2007, we have been paying out cash dividends equivalent to almost 100 percent of our net income every year,” Gozon said after a meeting held at the GMA Network Center in Quezon City on March 27.
The network has declared total dividend per share of P3.91 and total dividends amounting to P19.004 billion from 2008 to 2017.
Gozon said he is confident that the company will achieve its financial targets in 2017 even after having already achieved a 72 percent increase in net income in 2016.
“Even without political advertisements this year, we are expecting GMA’s financial performance to be even better than last year,” the executive said.
Based on data from Nielsen TV Audience Measurement, GMA maintained its lead in nationwide TV ratings in the first two months of 2017, the network said.
For the January-February period, GMA posted an average people audience share of 41.6 percent in National Urban Television Audience Measurement (NUTAM) ratings versus ABS-CBN’s 34.9 percent and TV5’s 7.9 percent.
The network also dominated all day parts in NUTAM during the period, it said.