RFM Corp., the food production arm of the Concepcion Group, has declared a fresh P300 million cash dividend, reinforcing its record of steady shareholder returns even as it braces for a more challenging year ahead.
The payout, equivalent to P0.08903 per share and payable on May 20, comes as RFM adopts a cautious stance for 2026. Management signaled a muted growth outlook, citing rising fuel costs, peso depreciation, and broader geopolitical uncertainties that could weigh on margins and consumer demand.
The latest declaration follows a similar P300 million dividend announced in January, bringing total payouts for the year to P600 million. Joey Concepcion III, president and chief executive officer of RFM, said the sustained dividends reflect solid earnings momentum in 2025, when net income rose 14 percent to P1.6 billion and revenues grew 3 percent to P22.3 billion. He added that RFM has consistently exceeded its 60 percent payout policy since 2022.
At a share price of P5.30 as of early April, the combined dividends translate to an implied yield of 3.36 percent, offering investors a stable income stream. The company typically pays dividends on a quarterly basis.
RFM, known for brands such as Fiesta and Royal pasta and Selecta milk, also has a strong presence in ice cream through its joint venture producing Selecta, Magnum, and Cornetto products.
Still, cost pressures are building. Concepcion noted that higher oil prices and currency weakness have yet to fully feed into domestic prices, suggesting further margin strain ahead. “These factors are typically addressed through pricing actions and cost-saving measures,” he said.
Despite the headwinds, RFM is aiming to surpass its 2025 performance, though expectations remain tempered. The company continues to roll out new products across ice cream, pasta, and ready-to-drink milk, balancing expansion with caution in an increasingly volatile operating environment.
