World Executives Digest | Globe Telecom said its board approved the first quarterly distribution of cash dividend of P22.75 per share for holders of its common shares. The dividend will be paid to shareholders on record as of February 20, 2018, payable on March 5, 2018.
“The first quarter cash dividend payment total is about P3 billion,” noted Globe Chief Finance Officer Rizza Maniego-Eala.
The approval of the first quarter cash dividend follows strong full-year revenues posted by the company in 2017. Maintaining its growth momentum last year, Globe generated revenues totaling P127.9 billion, a 6% growth from a year earlier.The sustained revenue momentum was driven by the solid growth in data-related products brought about by the increasing popularity of streaming and on-demand video content.
Mobile revenues grew 7% year-on-year, at P98.5 billion in 2017 from the P92.3 billion reported a year ago, driven by the continued mobile data revenue growth as more Globe customers embraced the digital lifestyle. Mobile data service revenues reached P43.1 billion in 2017, 23% higher than the P35.0 billion reported a year ago.
Globe home broadband business also sustained its growth momentum at P15.6 billion in 2017, increasing revenues by 7% year-on-year, with total subscriber base now reaching 1.3 million or 15% growth from a year ago. The solid growth in revenues was driven by the continued customer expansion in fixed wireless solutions, given the favorable customer response to the latest Globe home broadband plans.