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THE chairman of Jollibee Foods Corp. (JFC) has joined the board of
Philippine Long Distance Telephone Co. (PLDT).
In a disclosure to the Philippine Stock
Exchange, PLDT said Tony Tan Caktiong will serve as director
effective Tuesday serving the unexpired term of Ma. Lourdes C. Rausa-Chan
who resigned from the 11-man board.
“The resignation of Rausa-Chan is not expected
to have any significant impact on the company’s current or future
operations, financial position or results of operation,” PLDT
said.
Tan Caktiong has received citations and awards
from various organizations including the World Entrepreneur of the
Year 2004 award in Monaco besting 31entrants from around the globe.
Apart from Tan-Caktiong’s election, PLDT also
declared a P12.42- million cash dividend out of the unrestricted
retained earnings as of December 31, 2007.
Shareholders with series A, I, R, W, AA, and BB
shares listed in the exchange as of July 31 will receive P1 per
share by August 29 this year.
Manuel V. Pangilinan, PLDT chairman earlier said
the company faces unprecedented risks and pressures this year,
adding growth in consumption spending would abate because of high
food and fuel prices.
“This is critically important since consumer
expenditures is the mainstay of our business. The good news might
lie in the continued strength in the flows of overseas remittances,
to compensate for accelerating prices,” he said.
In the first quarter of the year, PLDT posted a
net income of P10.4 billion, 21 percent higher than the P8.6 billion
in the same period last year.
-- Darwin G. Amojelar
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