Co-led firms declare cash dividends totaling P3.9 billion

MANILA, Philippines — Two listed companies of retail tycoon Lucio Co have declared cash dividends totaling to P3.9 billion.

In a stock exchange filing, Puregold Price Club Inc., Co’s flagship retail chain, announced a 30 percent payout ratio of core net income of the previous year being returned to shareholders in the form of cash dividends totaling P2.79 billion.

Puregold said this amounts to P0.97 per share, payable on Jan. 18, 2024 to shareholders of record at the close of business on Dec. 27.

“This dividend represents a 13 percent year- on-year increase in annual cash dividends declared versus the previous year. While the current dividend yield amounts to around 3.7 percent,” Puregold said.

In a separate disclosure, The Keepers Holdings Inc., the country’s largest imported liquor distributor, declared 50 percent cash dividends payout amounting to P0.077 per share or a total of P1.118 billion.

The dividends are payable on Jan. 18, 2024 to Keepers’ shareholders of record at the close of business on Dec. 27.

“This dividend represents a 41 percent year-on-year increase in annual cash dividends declared versus the previous year. While the current dividend yield amounts to around 5.3 percent,” Keepers said.

Puregold said it has paid dividends to its shareholders without interruption since being publicly listed in 2011.

Keepers, on the other hand, said it has paid dividends to its shareholders without interruption since its follow-on offer in 2021.