Liberty Flour Mills to declare cash dividend

MANILA, Philippines - Listed flour miller Liberty Flour Mills Inc declared yesterday cash dividends to all shareholders as of June 21, 2013.

In a regulatory filing, the company declared cash dividends of P1 per share applying to 10 percent of the P500 million subscribed capital stock of the company. The dividends will be paid out on July 17, 2013.

LFM’s products consist mainly of bakery flour products under the brands El Superior, LFM Baker, Pine Tree, and LFM Soft.

The c ompany also produces mill feed, a flour by-product used for animal feeds.

LFM’s products are exclusively distributed and marketed by Parity Values Inc., Trade Demands, Corp. and Liberty Commodities Corp. LFM sells its products mainly on wholesale basis principally to members of the baking and food supply industry nationwide.

The company reported a net income of P79 million in the first quarter of the year, up 33 percent from P59.5 million in the same period last year because of lowers cost of raw materials.

In 2012, the company reported a net income of  P324 million, up 66 percent from the previous year due to the appreciation of the peso against the dollar which lowered the cost of imported wheat.