Listed Synergy Grid and Development Philippines Inc. declared a third-quarter cash dividend amounting to P1.37 billion, or P0.26 per share.
The dividend is of the same amount the company paid out on July 26 for the second quarter .
SGP said the board approved on September 21 the dividend declaration to all stockholders. The cash dividends will be payable on October 19 to stockholders of record as of October 5.
“SGP maintained the same level of dividends for this quarter. This follows the high dividend yield last quarter from the issuance of the preferred shares of the National Grid Corporation of the Philippines (NGCP) in June, to which SGP subscribed to using the proceeds from its follow-on offering (FOO),” said SGP chairman Henry. Sy, Jr.
NGCP is SGP’s sole operating asset. It holds the sole and exclusive concession and franchise for operating the Philippines’ transmission network, linking power generators and distribution utilities to deliver electricity to distributors and cooperatives nationwide.