GMA7 to pay R2.43 B in cash dividends

GMA Network reported yesterday that its Board of Directors has approved the declaration of cash dividends totaling R2.43 billion, equivalent to R0.50 per share, during a meeting last April 5. In a statement, the network said the payout date for the dividend will be on May 15, 2018 to shareholders of record as of April 23, 2018. GMA noted that it has declared total dividend per share and total dividends amounting to R4.81 and R23.378 billion, respectively, from 2008 to 2018. Since launching its IPO in 2007, GMA Network has been paying out cash dividends equivalent to almost 100 percent of the Company’s net income every year. “We are the only company in the Philippine broadcast industry that has consistently declared cash dividends each year since becoming publicly listed. We are proud to uphold our commitment to provide the best returns to our shareholders,” said GMA Network Chairman and CEO Felipe L. Gozon.