PLDT declares P2.44-M cash dividend

By Azer N. Parrocha

MANILA, June 11 (PNA) — The Philippine Long Distance Telephone Company (PLDT) on Wednesday declared a cash dividend of P2.44 million on all outstanding preferred stock.

The announcement was made through a disclosure with the Philippine Stock Exchange (PSE) after the company’s Board of Directors held a meeting Tuesday.

PLDT corporate secretary Ma. Lourdes Rausa-Chan said the dividends will be issued on July 15, 2014 and is payable on the same day.

“The cash dividend was declared out of the company’s audited unrestricted retained earnings of the company as of Dec. 31, 2013, which are sufficient to cover the total amount of dividend declared,” she added.

In 2013, the telecommunications firm registered a 5.0 percent jump in core net income of P38.7 billion from year-ago’s P36.9 billion.

It was able to exceed its income target of P38.4 billion due to higher service revenues. (PNA)