Synergy Grid declares P1.37B cash dividends

Synergy Grid and Development Philippines of bilyonaryos Big Boy Sy and Robert Coyiuto is set to reward its shareholders with a cash dividend similar to the amount given the past two quarters.

Synergy Grid declared a fourth quarter cash dividend of 26 centavos per share or a total of P1.37 billion.

This is the same amount declared by the company in the second and third quarter, which was distributed and paid out last July 26 and October 19, respectively.

The fourth quarter cash dividends will be payable on January 13, 2023 to stockholders of record as of December 22, 2022.

“The board approved the declaration of cash dividends from the company’s unrestricted retained earnings in view of the dividends received from National Grid Corporation of the Philippines, Pacifica21 Holdings, Inc. and OneTaipan Holdings, Inc.,” Synergy Grid said.

NGCP is Synergy Grid’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.

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