Manila – Following a highly profitable first quarter of the year, Pepsi-Cola Products Philippines (PCPPI) through its Board of Directors approved a cash dividend declaration for its stockholders. The total cash dividends payable amounted to approximately PhP258 MM or PhP0.07 per share. This represents approximately 30% of the 2012 Net Income after tax which stood at PhP844 MM.
The company declared dividends despite the substantial increase in capital expenditure incurred over the past 2 years to pursue its ambitious expansion plans.
The record date for stockholders entitled to the cash dividend declaration is close of business on 7 June 2013 and payment date is 28 June 2013.
The company most recently delivered strong top-line sales for the first quarter of the year, posting a net income of P270 million -- a remarkable increase of 20%, overlapping a noteworthy 606% profit growth in the same period in 2012. Gross revenues reached P6 billion for the quarter, a considerable increase of 14%, with sales volume up by 18% versus the same quarter last year.