RFM Corp., approved on Friday, Aug. 2, 2024, a cash dividend of P300 million or P0.089033 per share payable on Sept. 13 with a record date as of Aug. 16.
For the current year 2024, the company has declared a total of P800 million in dividends, or P0.237421 per share, comparable to the P850 million declared in 2023.
At the share price of P3.80 as of July 31, 2024, RFM’s dividend yield is 6.25 percent. RFM’s preliminary unaudited 2024 sales for the first half of 2024 grew four percent to P9.55 billion.
Sales of pasta, pasta sauce and ice cream products experienced good growth, while sales of flour declined in peso terms due to lower market prices of flour following the decreased price of wheat.
Income for the first six months of 2024 saw a strong 17 percent rise to P650 million on the continuing tailwinds of lower input costs and operating leverage. / PR