Jollibee spreads the joy, declares cash dividend
Despite last year’s lower profits, Tony Tan Caktiong’s Jollibee Foods Corp. is not chickening out of spreading the joy to shareholders.
Jollibee Foods has declared a cash dividend of P0.86 per common share for shareholders of record as of April 21, 2016, 7.5-percent more than what it declared last year.
In a disclosure to the stock exchange, Jollibee Foods said it has a policy of declaring regular cash dividends representing 33 percent of estimated earnings per share for the year. This year, the payment date is on May 6.
Jollibee Foods said it pays cash dividends to shareholders twice a year: one in May and another in December.
The first cash dividend declaration accounts for 45 percent of its annual cash dividend and the second accounts for 55 percent. When Jollibee Foods has surplus cash, it also declares another cash dividend to distribute to shareholders.
Jollibee, however, has strongly hinted that there may not be a special cash dividend this year as it happens when “it does not have a new business acquisition in a year.”
Jollibee bought American burger chain Smashburger last year, bringing down its net income to only P4.9 billion from 2014’s P5.5 billion.
It also bought the remaining 30-percent stake in Happy Bee Foods Processing Pte Ltd., a joint venture food processing firm in mainland China to gain full control and improve the quality of its output. (Eileen A. Mencias)