GMA Network Releases Over P1B Dividends for its Shareholders

The Board of Directors of broadcast company GMA Network approved the release of cash dividends amounting to P1.312 billion intended for all its shareholders.

Iris Joy P. Abarquez, GMA corporate communications officer on Thursday said that during a meeting held at the Quezon City headquarters in Quezon City last Wednesday, it was properly explained by the management that the said amount was based on a 27 centavo per share of shareholder.

Abarquez said that the record date for the cash dividend is on April 24, while the payment date is on May 19, 2014. She added that since its IPO launch in July 2007, GMA has released a total of P14.239 billion cash dividends.

Abarquez also said that the network has consistently paying out its shareholders at high percentage in relation to its net income.

The GMA communications officer indicated that from 2008, each GMA common share has earned P2.93 or an average of 5% per year based on the IPO price of P8.50.

She also quoted GMA CEO and Chairman Felipe L Gozon, GMA saying “Our impressive history in terms of dividend payout speaks largely of how much we value our shareholders.”