GMA Network okays 45¢ cash dividend

MANILA, Philippines - Broadcast giant GMA Network Inc. has approved the declaration of cash dividends amounting to P2.187 billion or P0.45 each share.

In a disclosure to the Philippine Stock Exchange, GMA said the record date for the cash dividend is on April 8, while the payment date is on May 5.

This after the company announced its net earnings slightly rose to P2.82 billion last year amid a challenging environment.

Revenues amounted to P14.299 billion, P500 million higher than the previous year.

Consolidated airtime revenues from all platforms rose four percent to P13.19 billion, aided largely by political advertisements during the election period, which amounted to P2.05 billion as against the P636 million recorded in 2009.

Revenues from international and subsidiaries operations stood at P1.11 billion or an increase of three percent. GMA International registered subscription and advertising revenues of P925.37 million, eight percent higher than the 2009 figure on strong sales in the US, Canada, Middle East, North Africa, Asia Pacific and Europe.

GMA’s international channels – GMA Pinoy TV (GPTV) and GMA Life TV (GLTV) – both recorded double-digit growth in subscriptions by the end of December 2010

Flagship business unit Channel 7 remains the network’s biggest revenue contributor, plunking in P12.21 billion or three percent higher than the year earlier level.

Meanwhile, revenues from GMA Radio expanded 43 percent to P535.6 million.

Earnings before income, taxes, depreciation, and amortization (EBITDA) was up four percent to P4.71 billion.

Moving ahead, GMA is looking forward to a brighter and more profitable 2011 with more than P7 billion worth of sales already booked as of December 2010.