• Mr. & Mrs. Co’s P117-M dividend from Puregold

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    Emeterio Sd. Perez

    Emeterio Sd. Perez

    AS of September 30, Puregold Club Inc. reported consolidated retained earnings of close to P10 billion, up 43 percent from P7 billion as of December 31, 2013. This means that from January to September this year, its net profit amounted to P3 billion.

    With its huge retained earnings, it paid a dividend of P0.20 per share on January 6, 2014 and P0.10 per share on January 30, 2014.

    These dividend payments totaled P829.9 million, an amount that is equivalent to 8 percent of retained earnings as of the end of the third quarter of the year.

    Computing investors’ earnings based on Puregold shares’ closing price of P35.70 on Tuesday, Due Diligencer arrived at a return of 0.84 percent per share in almost a year. Then the company’s stockholders received even less, at 0.62 percent, if they had bought Puregold shares in the open market at a year high of P48.50.

    Co-and-wife’s P14-B holdings
    At a compensation of P6 million a year, businessman Lucio Co received a total of P18 million from 2011 to 2013 while his wife Susan got P2.4 million a year or a total of close to P7.2 million. With their combined pay and perks of P25.2 million as chairman and vice chairman of Puregold, respectively, they can live comfortably even if they had to share some of their earnings with the Bureau of Internal Revenue.

    In addition, Mr. and Mrs. Co, as Puregold’s majority stockholders, have direct and indirect holdings in the company totaling 390.3 million shares with a market value of P14.1 billion at yesterday’s closing price of P36.15. Cosco Capital Inc., their holding company, owns 1.4 billion shares, or 51 percent. Cosco got P540.3 million of the P829.9 million dividends that Puregold paid in January.

    Co and his wife, on the other hand, were richer by P117.1 million from the dividends of their combined holdings of 390.3 million shares.
     
    Ownership profile
    Manila Broadcasting Corp. (MBC) has 402.7 million outstanding shares as posted on the website of the Philippine Stock Exchange. As a listed company, public investors own more than the 10-percent minimum ownership required by Securities and Exchange Commission regulations.

    In its posting, MBC listed two corporate stockholders: Elizalde Holdings Corp., which owns 291.6 million shares or 72.4 percent; and Romulo, Mabanta, Buenaventura, Sayoc & Delos Angeles, which holds 69.9 million shares or 17.361 percent.

    All in all, the holdings of the Elizaldes and Romulo, Mabanta, along with MBC executives and members of the board, combine for a total of 361.6 million shares, or 89.8 percent. This leaves the public owning 41 million shares, or 10.2 percent.

    MBC shares were listed on October 8, 1949. Rarely traded, 21,000 shares changed ownership in 2012 on value turnover of P59,240 or P2.821 per share. MBC was last traded on October 3, 2012 at P3.30 per share.

    Insider holdings
    On November 3, 2014, Rogelio Sarmiento, president and chief executive officer of Vitarich Corp., sold 9,000 shares at P1.08 each; 1.1 million shares at P1.07; and 1.4 million shares at P1.06 each. The transactions reduced his holdings to 68 million shares, or 2.4 percent from 70.5 million shares, or 2.5 percent.

    On October 31, 2014, Magdaleno Albarracin Jr., a member of the board of Trans-Asia Oil and Energy Development Corp., bought 50,000 shares at P2.42 per share. The acquisition increased his holdings to 10.3 million shares, or 0.21 percent.

    As of October 31, 2014, Sysmart Corp., a member of the SM group, owned 3.6 million shares, or 21.8 percent in Far Eastern University, including 20 percent stock dividend equivalent to 598,587 shares. At the stock’s last traded price of P1,007, Sysmart became richer on paper by P602.8 million.

    Ready to sell?
    PCD Nominee Corp. holds 605.2 million shares, representing the entire outstanding capital stock of Harbor Star Shipping Services Inc., for their owners. Of these, Filipinos control 565.8 million shares, or 93.5 percent while foreigners own 39.4 million shares, or 6.5 percent. The PCD-lodged Harbor Star shares include 426.5 million shares, or 70.5 percent owned by the company’s directors and executive officers.

    esdperez@gmail.com

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