New dividend policy announced
THE board of directors of Cosco Capital Inc. announced a new dividend policy with at least a 20 percent payout ratio of core net income of the previous year being returned to shareholders in the form of cash dividends.
The board also declared dividends totaling P1.41 billion or P0.197 per share payable on Jan. 23, 2024 to shareholders of record at the close of business on Jan. 2.
This dividend represents a 3.6 percent year-on-year increase in annual cash dividends declared versus the previous year while the current dividend yield amounts to around 4.38 percent.
Cosco has paid yearly dividends to its shareholders without interruption since its public offering in 2013.