Javascript Disabled?

Your browser seems to have Javascript disabled. This website requires Javascript to display and run properly. It's totally safe.

If you want to continue using this site, please enable Javascript from you browser settings first, then come back here and refresh this page.

Belle’s dividend nears PLDT’s

Stock market investors looking for dividend play usually look at the quintessential dividend stock–Philippine Long Distance Telephone Co. which consistently pays the highest dividend among top listed companies in the country.

PLDT’s dividend payout has resulted in dividend yield of about 6 percent, compared with the company’s stock price, which is the highest in the market.

One young company, a high-end real estate developer, is trying to catch up with PLDT. Belle Corp. chief finance officer Manuel Gana said the company’s recent declaration of P0.18 in cash dividend translated into a dividend yield of 5 percent compared with its stock price.  “So we are not too far from PLDT in terms of dividend yield,” Gana said.

Belle, a company controlled by tycoon Henry Sy, has no dividend policy, like other listed companies, but it has been regularly declaring dividends. With the transformation of Premium Leisure Corp. (formerly Sinophil Corp.) as its listed gaming subsidiary, Belle’s ability to declare dividends is likely to be enhanced further.

Gana said there was a strong possibility that PLC would declare dividend for 2014 based on 2013 earnings.  The dividends will come from the P1.1-billon retained earnings of PLC.

While not all P1.1 billion are to be declared dividends, Belle will most likely receive the bulk of the dividends that PLC will declare, as it holds a 79-percent stake in PLC, a gaming company that has interests in the newly opened City of Dreams Manila.

– Jenniffer B. Austria, Manila Standard Today

We collect cookies to analyze our website traffic and performance; we never collect any personal data.