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Globe Telecom board approves cash dividend for Q3 2017

By Nestor Domingo Jr - on 10 Aug 2017, 9:04pm

Globe Telecom board approves cash dividend for Q3 2017

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.

The board of Globe Telecom has approved the third quarterly distribution of cash dividend amounting to PhP 22.75 for its common shares. The dividend will be paid to shareholders on record as of August 22, 2017 and payable on September 6, 2017.

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

The latest news of approval came as Globe’s strong performance lured them all-time high in revenues and EBITDA recently. The first half of 2017 saw the telecommunication service provider posting revenues amounting to PhP 6.29 billion, a 5% increase compared to 2016, while EDITBDA during the period went up by 6% and hit the record-high PhP 27.3 billion.

Also, the giant telco's mobile data business grew by of 5% despite a reduction in mobile subscriber base. Its home broadband business posted an increase of 8% year on year and these gains were complemented by the 3% increase in corporate data. These gains were results of Globe's commitment to providing supplying the demands of its customers who are adjusting to the digital lifestyle, as well as the expanding customer base of its fixed wireless business and corporate connectivity.