GMA Network reports P1.94B dividend payout

Chrisee Dela Paz
GMA Network reports P1.94B dividend payout
The broadcast giant is also confident it can end 2016 with higher revenues than 2015

MANILA, Philippines – Just before it announces its net income results for 2015, broadcast giant GMA Network, Incorporated has a gift to its shareholders: A P1.94-billion ($42.08-million) cash dividend payout, with expectations of a robust financial performance this 2016.

The Gozon-led company told the Philippine Stock Exchange (PSE) on Monday, April 11, that its board of directors approved the declaration of a cash dividend of 40 centavos per share, totalling P1.94 billion ($42.08 million).

The cash dividend will be paid on May 16, 2016 to shareholders on record as of April 25, 2016.

“Our announcement reaffirms the network’s commitment to its valued shareholders to provide them with the best returns,” GMA Network chairman and CEO Felipe L. Gozon told the PSE.

Better 2015 performance

“We expect GMA’s financial performance to exceed expectations this year,” Gozon added.

In February, the head of GMA Network said his company breached its P2-billion ($42.10-million) net income target for 2015, thanks to higher airtime revenues.

The network’s 2015 net income is also more than double its net income of P1 billion ($21.05 million) in 2014.

“[Financial performance in 2015 is] very good. Net income after tax is more than 100% of 2014. [It registered] more than P2 billion ($42.10 million),” Gozon told reporters last February.

Citing Nielsen TV Audience Measurement data, GMA also said its nationwide ratings increased, driven by the stronger performance in the key areas of Urban Luzon and Mega Manila.

GMA said it saw a 36.6% household audience share in the National Urban Television Audience Measurement (NUTAM) ratings from March 1 to 31, compared with rival ABS-CBN Corporation, which got 36.1%, and TV5 Network with 8.2%.

From 2008, the company has already paid out a total dividend per share of P3.58 ($0.078) and a total dividend of P17.4 billion ($377.28 million).

“Since its IPO (initial public offering) launch in 2007, the network has consistently delivered a high shareholder return, paying out cash dividends equivalent to almost 100% of its net income,” GMA said. – Rappler.com

$1 = P46.11

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