• March is URC’s dividend month

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    EMETERIO SD. PEREZ

    EMETERIO SD. PEREZ

    STOCKHOLDERS of Universal Robina Corp. (URC) will gather for their annual meeting at 4 p.m. on March 9 at the Ruby Ballroom of Crowne Plaza Manila Galleria. Expected to attend either in person or by proxies are the holders of the company’s 2.2 billion outstanding common shares.

    A filing in connection with the meeting listed JG Summit Holdings Inc. as owner of 1.2 billion shares, or 55.7 percent. The rest are held by PCD Nominee Corp. as record stockholder for beneficial owners of 953.9 million shares of which 705.8 million shares, or 32.3 percent, are owned by foreigners, and 248.1 million shares, or 11.4 percent, are owned by Filipinos.

    JG Summit is the listed holding company of businessman John Gokongwei Jr. and his family. At a 30-day high of P199, its holdings had a market value of P241.8 billion. It incurred a paper loss of P35.2 billion at URC’s 30-day low of P170.

    The PCD-held 953.9 million URC shares, or 43.7 percent, are not necessarily public as shown in URC’s public ownership report (POR) on the website of the Philippine Stock Exchange.

    In its POR, Universal Robina, which is JGS’ food unit, divided its 2.2 billion outstanding common shares into 1.2 billion non-public shares and 949.3 million shares, or 43.5 percent, owned by the public.

    Universal Robina pays dividend in March, as it did last year when it distributed P3 per share on March 24. It has scheduled a P3.15 per share dividend payout on March 28, 2016.

    On Feb. 19, URC closed at P188.20 on thin trading of 1.8 million shares.

    Executive compensation
    As chairman emeritus of URC, businessman John L. Gokongwei Jr. heads the list of the company’s five highest-paid executives from 2014 to 2016. As a group, they will receive this year compensation of P103.56 million. The total is divided into salary, P101.8 million; bonus, P1.5 million; and others, including per diems, P247,500. All other officers and directors of the company will share among themselves a total of P132.5 million divided into salary of P129 million; bonus, P3 million; others, P427,500.

    Aside from Mr. Gokongwei, URC’s four other highest-paid executives from 2014 to 2016 are his brother James L. Go, chairman; son Lance, president and chief executive officer; Cornelio S. Mapa Jr., executive vice president; and Edwin S. Totanes, vice president.

    In 2015, Universal Robina paid Mr. Gokongwei and company P97.2 million, which was divided into salary, P95.5 million; bonus, P1.5 million; other, P247,500. It paid “all others” salary of P114.2 million; bonus, P3 million; others, P397,500 for a total of P117.6 million.

    In 2014, URC paid Mr. Gokongwei and four other executives P81.1 million, which consisted of salary, P80 million; bonus, P900,000; others, P165,000. It paid “all others” P107.9 million of which salary was P105.9 million; bonus, P1.8 million; others P245,000.
     
    PCD-held shares
    Dizon Copper-Silver Mines Inc. has an ownership profile much different from that of Universal Robina Corp. In its definitive Information statement (DIS), it listed PCD Nominee Corp. as holder of 74.1 million shares, or 93.7 percent, for “various stockholders.”

    Of the PCD-held Dizon shares, four stockbrokers hold for clients 41.6 million shares, or 52.6 percent. Angping & Associates has 20.9 million shares, or 26.4 percent; Premium Securities, 9.7 million shares, or 12.25 percent; Timson Securities, 6.3 million shares, or 7.9 percent; and Tower Securities, 4.8 million shares, or 6 percent.

    Dizon did not identify the owners of PCD-held shares. It said “the shares registered under the name of the stockbrokers are owned by various clients, buyers and individuals.”

    Of 20.86 million Dizon shares held by Angping & Associates for clients, Jerry C. Angping owns 3.99 million, or 5 percent, including his recently acquired 108,000 shares. He reported on Feb. 4 his additional acquisition on Feb. 1 and 2 of 50,000 shares at P6.11 each; 50,000 shares at P6.20 each; and 8,000 shares at P7.00 each.

    A public ownership report shows Dizon is not only listed but it is the market’s “most public” company. Only 52,297 of its 79 million listed shares are classified as “non-public” while 79 million shares, equivalent to 99.9 percent, are public. On Feb. 19, Dizon closed at P7.75 on 55,400 traded shares.

    esdperez@gmail.com.

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