Globe Telecom Inc. said its board approved a cash dividend of P22.75 per share to holders of common shares for distribution in the first quarter of the year.
“The first quarter cash dividend payment total is about P3 billion,” Globe chief finance officer Rizza Maniego-Eala said.
The dividend will be paid to shareholders on record as of February 20, 2018, payable on March 5, 2018.
The approval of the first quarter cash dividend follows strong full-year revenues of the company in 2017.
Maintaining its growth momentum last year, Globe generated revenues of P127.9 billion, up 6 percent from a year earlier. The sustained revenue momentum was driven by the solid growth in data-related products brought about by the increasing popularity of streaming and on-demand video content.
Mobile revenues grew 7 percent to P98.5 billion in 2017 from P92.3 billion reported a year ago, driven by the continued mobile data revenue growth as more Globe customers embraced the digital lifestyle.
Mobile data service revenues reached P43.1 billion in 2017, up 23 percent from P35 billion a year ago.
Globe home broadband business also sustained its growth momentum at P15.6 billion in 2017, increasing revenues by 7 percent, with total subscriber base now reaching 1.3 million or up 15 percent from a year ago.
The solid growth in revenues was driven by the continued customer expansion in fixed wireless solutions, given the favorable customer response to the latest Globe home broadband plans.
Globe posted a net income of P15.1 billion last year, down 5 percent from P15.9 billion in 2016, as increased investments in data network pushed non-operating expenses and depreciation charges higher for the period.
The 2 percent increase in non- operating expenses was largely due to the increase in interest expenses and spectrum amortization related to the acquisition of the telecommunication assets of San Miguel Corp.
Globe’s core net income, which excludes the impact of non-recurring charges, and foreign exchange and mark-to-market charges, declined 15 percent to only P13.5 billion from P16 billion in 2016, with the full year impact of the San Miguel asset acquisition.