Globe Telecom board approves cash dividend of P22.75/share for common shareholders

Globe President & CEO Ernest Cu, (middle) answers a query during the recent analyst briefing where he reported that service revenues in the first half reached a new all-time record. Cu is joined (from left) by Chief Finance Officer Rizza Maniego-Eala, Chief Commercial Officer Albert de Larrazabal, Chief Information and Technology Officer Gil Genio and Globe General Counsel Atty. Froilan Castelo.

Globe Telecom said its board approved the third quarterly distribution of cash dividend of P22.75 per share for holders of its common shares. The dividend will be paid to shareholders on record as of August 22, 2017, payable on September 6, 2017.

“The third quarter cash dividend payment total is about P3 billion, an increase of 3% over last year’s distribution in line with the company’s commitment in creating shareholder value,” Globe Chief Finance Officer Rizza Maniego-Eala said.

The approval of the third quarter cash dividend came as Globe maintained its strong momentum, posting all-time highs in revenues and EBITDA in the first six months of the year. Revenues in the first half reached P62.9 billion, expanding 5% from a year earlier, driven by the demand for data-related products as customers continue to adapt to the digital lifestyle. EBITDA during the period hit a record high of P27.3 billion, up 6% from a year earlier.

Growth in topline continues to be delivered by different data revenue streams. Mobile continued its strong performance, growing 5% on the back of sustained gains in the mobile data business despite reduction in mobile subscriber base.

The home broadband business also posted an increase of 8% year on year, attributed to expanding customer base as fixed wireless business continues to grow. The gains in broadband and mobile data were complemented by the 3% increase in corporate data, fueled by sustained demand for corporate connectivity.