Globe to pay cash dividend

Globe Telecom Inc.’s board has approved the distribution of

20.75 cash dividend per common share, payable this March 4, following the company’s recordbreaking financial performance last year. On an annualized basis, this represents an 11% improvement from the last quarterly dividends of 18.75 per common share. The company’s dividend yield remains competitive when compared against those of government securities and other listed companies on the local bourse, says Globe Chief Finance Officer Alberto de Larrazabal. This is in line with the company’s commitment to maintain a sustainable and competitive dividend distribution policy of 75% to 90% of prior year’s core net profit. Last year, Globe Telecom booked a core net profit growth of 25% to a record level of 14.5 billion, driven by the solid performance of its business segments amid sustained demand for data connectivity across the mobile, broadband and fixed line data businesses. (EVA)