Synergy Grid and Development Philippines of ultra bilyonayos Big Boy Sy and Robert Coyiuto declared a third quarter cash dividend of 26 centavos per share or a total of P1.369 billion.
This is the same amount declared in the second quarter which was distributed and paid out last July 26.
The third quarter cash dividends will be payable on October 19 to stockholders of record as of October 5.
“This follows the high dividend yield last quarter from the issuance of the preferred shares of the National Grid Corporation of the Philippines (NGCP) in June, to which SGP subscribed to using the proceeds from its follow-on offering,” said SGP chairman Henry T. Sy, Jr.
NGCP is SGP’s sole operating asset. It holds the sole and exclusive concession and franchise for operating the Philippines’ transmission network, linking power generators and distribution utilities to deliver electricity to power distributors and cooperatives nationwide.
It is investing P440 billion in the next 13 years across 211 projects aimed at supporting the growing electricity demand in the country and making the country’s power backbone continuously reliable.
“We thank the investing public for its continued trust and partnership with SGP, which, in return, supports the ongoing transmission projects for the development of the country’s power grid being undertaken by NGCP. Several critical projects for the grid’s improvement are underway and will come into fruition in the coming months,” said Coyiuto, vice chairman of SGP.