PhilWeb Declares PhP0.10 Dividend
Makati—(PHStocks)—The Board of Directors of PhilWeb Corp. (PSE: WEB), the Asian gaming solutions provider, has declared a PhP0.10 dividend during its meeting on 19 February 2013. The dividend is payable to all stockholders on record as of March 5, and will be paid out on 15 March 2013.
PhilWeb has been paying dividends since 2010, when it declared a PhP0.10 dividend for the first time in its history. In 2011, there were two dividends for a total of P0.20. The dividend payout further increased in 2012, when a total of P0.20 was paid out in cash plus an additional 20% stock dividend. The company notes that it plans to keep increasing its dividends in the future.
PhilWeb is a provider of gaming solutions in the Asia Pacific region, with businesses in the Philippines, Timor Leste, Cambodia and Guam. PhilWeb further disclosed that it will be entering Indonesia with a new product next month.
The fastest growth was delivered by PhilWeb’s Asia Pacific subsidiary, which operates scratch card businesses in Cambodia and Timor Leste, and a Sweeps Center in Guam. Asia Pacific contributed 9% of total revenues, which drove the firm’s consolidated Total Revenue line to P1.5 billion, 27% higher than for the same period in 2011.
Dennis Valdes, president of PhilWeb, says, “We are pleased to note several bellwether events that contributed to making 2012 a record-breaking year for us. First and foremost, we are now a true multinational corporation, with the realization of solid revenues from our Asia Pacific expansion.”
Mike Grandinetti, president of PhilWeb Asia Pacific, adds, “Our launch in Indonesia means that we will now have operations in four countries around the region. We will also soon open our first e-Games cafe in Timor Leste. This expansion means that e-Games will now become a regional brand for PhilWeb’s quality electronic gaming solutions.”
Valdes also noted that the Company’s e-Games cafe business in the Philippines remains strong, with a current total of 278 outlets. Further, PhilWeb has just set up a new company to produce electronic gaming terminals with a built-in bill acceptor, card reader and ticket-in, ticket-out printer.
“We have just received the PEZA certification for e-Magine Gaming Corporation, our new gaming terminal business, and we expect it to export a significant number of gaming machines in the coming years,” concludes Valdes.