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Manila Bulletin devider Business devider The Stock Market devider GMA declares P5.35-B cash dividend

GMA declares P5.35-B cash dividend

Published Apr 7, 2023 03:15 am
GMA Network's Board of Directors has approved the declaration of P5.35 billion total cash dividends or P1.10 per share, during a meeting held on March 31, 2023. In a statement, the network said the dividend will be paid on May 16, 2023 to shareholders of record as of April 21, 2023. Despite this year’s lower dividend per share, mainly due to the advertising industry budget cutbacks, GMA said it continues to provide the best returns to its shareholders and consistently pays cash dividends every year. The Philippines’ leading broadcasting company, GMA Network has been officially listed on the Philippine Stock Exchange in 2007, and has since then declared P9.46 total dividend per share and total dividends amounting P45.99 billion from 2008 to 2022. These are equivalent to an average of 96 percent of the Company's net income after tax year-on-year. Based on the historical dividend payout of the Company, dividend yield averages at 8 percent based on IPO price of P8.50 per share. GMA operates a network of 97 TV stations and 21 radio stations throughout the country. Last March, it launched its 12th regional station, GMA Ilocos Norte. Based on Nielsen TV Audience Measurement data from January to December 2022, GMA Network’s combined people net reach including GTV and its other digital channels was at 96 percent or 78 million viewers in Total Philippines.
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