Pepsi-Cola declares cash dividend
Despite a flat income growth, Pepsi-Cola Products Philippines Inc. is showering its shareholders with a cash dividend of P0.066 per share, the same amount it declared last year, the company said in a disclosure to the stock exchange.
The disclosure came with the announcement that it has accepted the resignation of its vice president for projects, Il Hwan Lim, effective immediately.
Pepsi-Cola Products Philippines did not provide a reason for the resignation.
The cash dividend, on the other hand, will be given to stockholders on record as of May 10, 2016 and will be paid out on June 3, 2016.
Pepsi-Cola Products Philippines reported a net profit of P812.1 million last year, just slightly higher than the P810.9 million reported in 2014, as high sugar prices and investments in its new snacks business offset its revenue gains.
Pepsi-Cola Products Philippines invested in a facility in Cabuyao for the commercial production of snacks such as Cheetos and Lay’s. The company started production in the plant in the fourth quarter of last year and generated P4 million in revenues.
Its biggest revenue earner is its carbonated soft drinks business that include Pepsi-Cola, 7Up, and Mountain Dew.
It also has a noncarbonated beverage business that includes Gatorade, Tropicana, Twister, and Lipton. (By: Eileen A. Mencias)