Far Eastern University said Wednesday its board approved the appropriation of P1.46 billion of retained earnings for various projects and capital expenditures.
At the end of February, FEU has reported retained earnings of P7.6 billion.
The listed university said the bulk of the appropriated retained earnings, or P803 million, will be spent for capital expenditures. It said that a total P417 million has been set aside for the expansion projects of subsidiaries, P150 million for strategic growth investments, P90 million to cover probable contingencies, and the balance for treasury shares.
FEU is one of the largest learning institutions in the country, with seven campuses that offer primary, secondary, college and post-graduate education. It also owns stakes in various learning institutes in the Philippines and abroad.
For its fiscal year ended 31 May 2022, FEU reported a 57 percent year-on-year increase in net income to P1.54 billion.
