PhilWeb declares dividend of P0.15/share; up 50%

MANILA, Philippines - PhilWeb Corp., the service provider to Pagcor’s e-Games outlets, declared a dividend of P0.15 per share payable on Feb. 16, to shareholders of record as of Jan. 20, 2015.

The dividend is 50 percent higher than the previous dividend payment of P0.10 per share. PhilWeb paid a total of four P0.10 dividends in 2014.

Dennis Valdes, president of PhilWeb, said: “Our cash flows in 2014 have been increasing, and thus, we would like to reward our shareholders, who have maintained their faith in our company, with increased returns. I note that PhilWeb pays a quarterly dividend, and if we were to extrapolate today’s dividend to year end, and relate that to today’s market close of P12.88 per share for PhilWeb, that would amount to a near five-percent dividend yield on our stock.”