Dividend Information

We declare dividends to shareholders of record, which are paid from our unrestricted retained earnings. Our dividend policy entitles holders of Shares to receive annual cash dividends of up to 30% of the prior year's recurring attributable net income based on the recommendation of our Board of Directors. Such recommendation will take into consideration factors such as dividend income from subsidiaries, debt service requirements, the implementation of business plans, operating expenses, budgets, funding for new investments and acquisitions, appropriate reserves and working capital, among others.

Although the cash dividend policy may be changed by our Board of Directors at any time, our current intention is to pay holders of our Shares annual cash dividends at this ratio. Additionally, in the event that new investments, acquisitions or other capital expenditure plans do not materialize, our Board of Directors plans to review the dividend policy and consider increasing the dividend ratio above 30% of the prior year's recurring net income.

Following are the dividends declared since the company listed its shares in the Philippine Stock Exchange on November 22, 2010:


YearTypeDividend RateRecord DatePayment/Issue Date
2018Stock80%October 23, 2018November 20, 2018
2018CashP0.30 per shareSeptember 11, 2018September 27, 2018
2018CashP0.12 per shareMarch 28, 2018April 10, 2018

2017

Cash

P0.08 per share

March 29, 2017

April 11, 2017

2016

Cash

P0.08 per share

March 31, 2016

April 12, 2016

2015

Cash

P0.50 per share4

April 15, 2015

April 27, 2015

Stock

100%

August 11, 2015

2014

Cash

P0.10 per share3

April 10, 2014

May 08, 2014

Cash

P0.17 per share3

December 10, 2014

Stock

50%

January 28, 2015

2013

Cash

P0.09 per share2

April 22, 2013

May 14, 2013

Stock

25%

July 12, 2013

2012

Cash

P0.14 per share1

April 16, 2012

May 11, 2012

Stock

50%

September 24, 2012

2011

Cash

P0.06 per share1

April 11, 2011

May 9, 2011

Cash

P0.03 per share1

December 08, 2011

1Adjusted for the effects of the 50%,25%,50% and 100% stock dividends issued in September 2012,July 2013,January 2015 and August 2015, respectively

2Adjusted for the effects of the 25%,50% and 100% stock dividends issued in July 2013,January 2015 and August 2015, respectively

3Adjusted for the effects of the 50% and 100% stock dividends issued in January 2015 and August 2015, respectively

4Adjusted for the effect of the 100% stock dividend issued in August 2015