Liberty Flour Mills declares P112.5M cash dividend
Liberty Flour Mills Inc. today announced the declaration of a cash dividend of seventy five centavos per share that will be sourced from its retained earnings for 2016.
In a disclosure to the stock exchange, Liberty Flour Mills said the cash dividend will be payable to shareholders of record as of April 7 and that the pay-out will be on April 21.
The company’s board of directors approved the cash dividend declaration on March 22, 2017.
The company has yet to announce its 2016 full year results but its net income in the first nine months was already 84 percent higher compared to the year before.
While the company’s flour milling business suffered from stiff competition, a subsidiary more than made up for the decline in revenues from the flour business. The subsidiary alone brought in P100 million in dividend income which offset the 26 percent decline in its revenues.