GMA Network Inc.’s board of directors approved the declaration of cash dividends totaling P3.548 billion, or P0.73 per share, in a meeting held at the GMA Network Center in Quezon City on March 27.
The dividend will be paid on May 15, 2017 to shareholders of record as of April 20, 2017.
GMA Network chairman and chief executive Felipe Gozon said the declaration of cash dividends reaffirmed the company’s commitment to provide the best returns to shareholders. “Since our IPO launch in 2007, we have been paying out cash dividends equivalent to almost 100 percent of our net income every year,” Gozon said.
The network declared total dividend per share and total dividends amounting to P3.91 and P19.004 billion, respectively, from 2008 to 2017.
Gozon said while the network’s financial performance reached unprecedented levels in 2016, highlighted by a 72-percent increase in net income, the company was poised to achieve its financial targets in 2017.
“Even without political advertisements this year, we are expecting GMA’s financial performance to be even better than last year,” Gozon said.
