RFM readies dry powder for potential acquisitions

MANILA, Philippines — Food and beverage company RFM Corp. is staying ready for acquisition opportunities, keeping deployable cash even as it continues to reward shareholders with  large amount of dividends.

RFM said its board approved a P600-million cash dividend, equivalent to approximately P0.17807 per share, which is payable on Dec. 2, 2026 to stockholders of record as of Nov. 5, 2026.

The declaration brings the company’s total cash dividends for 2026 to P1.5 billion, following three P300 million dividend tranches paid earlier in February, May and July.

“Even as we declare this large amount of dividends, RFM is keeping dry powder for opportunities to buy new businesses,” RFM president and chief executive officer Joey Concepcion III said.

Over the past years, Concepcion said RFM has invested in capacity expansion in its milk and bread lines and funded these capital expenditures with internal cash.

“In addition, the ongoing multi-year upgrade and expansion in production capacity in our Selecta ice cream joint venture with The Magnum Ice Cream Co. Inc. will be financed through loans,” he said.

Concepcion said RFM remains committed to providing shareholders with consistent cash returns while retaining sufficient financial flexibility to invest in its brands, production capabilities and long-term growth.

RFM is one of the country’s leading branded food and beverage companies, with businesses in pasta, milk, flour and ice cream.

Its portfolio includes Fiesta, Royal and Selecta Milk, while its participation in the ice cream segment is through Magnum RFM Ice Cream Inc., which markets Selecta, Magnum and Cornetto in the Philippines.

RFM generated consolidated net revenues of P16.86 billion in the first nine months, 11 percent higher than last year’s P15.23 billion.  Net income grew by 10 percent to P1.38 billion.

In the third quarter alone, RFM’s net revenues rose by 17 percent year-on-year to P6.36 billion while net income expanded by 18 percent to P566 million.

RFM said growth was supported by both consumer and institutional groups, with strong sales across its consumer brands, particularly Selecta Milk.