Quezon City—(PHStocks)—GMA Network’s (PSE: GMA7) Board of Directors approved the declaration of a cash dividend of P0.40 centavos per share, totalling P1.944 billion in a meeting held at the GMA Network Center in Quezon City on April 8.
The dividend will be paid on 16 May 2016 to shareholders of record as of 25 April 2016.
“We expect GMA’s financial performance to exceed expectations this year,” said GMA Network Chairman and CEO Felipe L. Gozon. “Our announcement reaffirms the Network’s commitment to its valued shareholders to provide them with the best returns.”
Since its IPO launch in 2007, the Network has consistently delivered a high shareholder return, paying out cash dividends equivalent to almost 100 percent of its net income.
Total dividend per share and total dividends declared from 2008 onwards amount to PhP3.58 and PhP17.4 billion, respectively.
GMA grabbed the lead in nationwide ratings in March on the back of its stronger performance in the key areas of Urban Luzon and Mega Manila based on Nielsen TV Audience Measurement data. For the period March 1 to 31 (with the dates of March 20 to 31 based on overnight data), GMA garnered a 36.6 percent household audience share in National Urban Television Audience Measurement (NUTAM) ratings versus ABS-CBN’s 36.1 percent and TV5’s 8.2 percent.
The Network also ruled across all dayparts including primetime in Urban Luzon and Mega Manila, where majority of the urban TV household population is found.