PhilWeb Ups Dividend

Rizal—(PHStocks)—PhilWeb Corp. (PSE: WEB), the service provider to PAGCOR’s e-Games outlets, declared a dividend of PhP0.15 per share payable on February 16, 2015, to shareholders of record as of January 30, 2015. The dividend is 50% higher than the previous dividend payment of PhP0.10 per share. PhilWeb paid a total of four PhP0.10 dividends in 2014.

Dennis Valdes, president of PhilWeb, said, “Our cash flows in 2014 have been increasing, and thus, we would like to reward our shareholders, who have maintained their faith in our company, with increased returns. I note that PhilWeb pays a quarterly dividend, and if we were to extrapolate today’s dividend to year end, and relate that to today’s market close of PhP12.88 per share for PhilWeb, that would amount to a near 5% dividend yield on our stock.”