Anglo Philippine Holdings declares 15% cash bonus

MANILA, Philippines - Anglo Philippine Holdings Corp., a listed natural resource, infrastructure and property development company, declared a 15-percent cash dividend to stockholders of record as of May 8, 2009, payable on May 29, 2009. The dividend payout amounts to P174.8 million or 15 centavos per share.

This is the company’s fifth dividend since 2007, after three successive cash payouts totaling P213.5 million or 20 centavos per share, and a 10-percent stock dividend declared in late 2008.

Anglo Phil has investments in copper producer Atlas Consolidated Mining (11.67 percent), which has commenced commercial production of its Carmen Copper project in Toledo City, Cebu, and in the gold exploration company United Paragon Mining (25.62 percent) which operates in the Bicol region.

The company also holds equity in the TriNoma Mall in Quezon City and in the publicly-listed Shang Properties, Inc., owner of the Shangri-La Plaza Mall in the Ortigas Center.

In the absence of extraordinary income from the sale of marketable securities realized in 2007, net income of the company for 2008 was recorded at P47.5 million (P0.04 per share), 90 percent lower than the record profit of P494.5 million (P0.47 per share) shown in 2007.

The global economic downturn also adversely affected the performance of the company’s portfolio of investments. First quarter 2009 results, however, showed an increase of 34.7 percent from P19 million in Q1 2008 to P25.6 million in Q1 2009.

The board of directors also approved the extension of the share buyback program of the company up to Dec. 31, 2009.