GMA Network grants P1.9-B cash dividend

MANILA, Philippines – Broadcasting firm GMA Network Inc. has declared a P0.40 cash dividend per share, amounting to a total of P1.94 billion.

Shareholders of record as of April 25, 2016 are entitled to receive the dividends.  The payment date is on May 16.

GMA officials earlier said they are confident the network would exceed its financial performance this year.

“We  expect GMA’s financial performance to exceed expectations this year. Our announcement reaffirms the network’s commitment to its valued shareholders to provide them with the best returns,”  GMA chairman and CEO Felipe Gozon said.

Last year, the company breached its P2 billion net income target, which was more than double the profit reported in 2014 on the back of higher airtime revenues.

Since it launched its initial public offering in 2007, the company has delivered a high shareholder return, paying out cash dividends equivalent to almost 100 percent of its net income.

 In all, total dividend per share and total dividends declared from 2008 onwards amounted to P3.58 billion and P17.4 billion, respectively.

Both GMA and ABS-CBN are claiming leadership in ratings.

GMA said it grabbed the lead in nationwide ratings in March on the back of stronger performance in the key areas of Urban Luzon and Mega Manila based on Nielsen TV Audience Measurement data.                  

 Likewise, the company said it ruled across all day parts including primetime in Urban Luzon and Mega Manila, where majority of the urban TV household population are found.