Jollibee makes shareholders happy with P0.86 cash dividend
Fast food giant Jollibee Foods Corp. of Bilyonaryo Tony Tan Caktiong continues to make shareholders happy with the declaration of another cash dividend.
The company’s Board of Directors has approved a cash dividend of Php0.86 per share of common stock for all shareholders of record as of April 21.
The cash dividend is 7.5 percent higher than that declared in April last year.
Payment date is on May 6, 2016. Funds will be sourced from the company’s unrestricted retained earnings as of 2010.
Jollibee has a policy of declaring regular cash dividends representing 33 percent of estimated earnings per share for the year. These cash dividends are declared and paid twice each year; the first in May and the second in December.
The first usually comprises 45 percent of the annual cash dividend and the second at 55 percent.
The company also pays special cash dividends if it has surplus cash, that is, if it does not have new business acquisition in a year.
Earnings of Jollibee slipped 11 percent to P4.9 billion last year from P5.5 billion in 2014 after it spent P1 billion for the acquisition of American chain Smashburger and for information technology upgrade as well as network development.
Sales, however, grew 11 percent to P101 billion last year from P91 billion in 2014.