GMA Network Inc. said its board of directors has approved the declaration of P5.35 billion total cash dividends to its shareholders.
The Gozon-led network said the P1.10 per share dividend will be paid on May 16, 2023 to shareholders of record as of April 21, 2023.
Despite this year’s lower dividend due to budget cutbacks in the advertising industry, GMA said it continues to provide the best returns to its shareholders and consistently pays cash dividends every year.
GMA officially listed at the Philippine Stock Exchange in 2007 and has declared since then P9.46 total dividend per share and total dividends of P45.99 billion from 2008 to 2022.
These are equivalent to an average of 96 percent of the company’s net income after tax year-on-year. Based on the historical dividend payout of the network, the dividend yield averages 8 percent based on the IPO price of P8.50 per share.
GMA operates a network of 97 TV stations and 21 radio stations throughout the country. Last March, it launched its 12th regional station, GMA Ilocos Norte.
Earlier this year, GMA made its programs available in 16:9 widescreen format via free-to-air channels GMA and GTV; digital channels Heart of Asia, Hallypop, I Heart Movies, and Pinoy Hits; and its international channels GMA Pinoy TV, GMA Life TV, and GMA News TV.
